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Gold Import Norms Eased

May 22, 2014 by Admin Leave a Comment

  • Following representations made by jewellers and bullion dealers, the RBI has permitted star trading houses (STH) and premier trading houses (PTH) to import gold under the 20:80 scheme.
  • Accordingly:
    • Gold can be purchased by the importer, provided that 1/5th of the imported gold is exported as finished products like jewellery.
    • Banks are also permitted to provide gold metal loans (GML) to domestic jewellery manufacturers out of the eligible domestic import quota to the extent of GML.
  • This will increase the number of institutions importing gold, debottleneck the supply of gold and bring down prices.
  • Read at: http://www.thehindu.com/todays-paper/tp-business/rbi-eases-gold-import-norms/article6035136.ece

Exams Perspective:

  1. Bullion
  2. CAD
  3. Gold Metal Loans (GML)

Filed Under: Current Affairs, Economy Tagged With: Bullion, CAD, Gold can be purchased by the importer, Gold Metal Loans (GML), RBI has permitted star trading houses (STH) and premier trading houses (PTH) to import gold, Representations made by jewellers and bullion dealers, This will increase the number of institutions importing gold

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