Gold Import Norms Eased

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Decline In Gold Import Narrows Trade Deficit www.ambitionias.com
  • 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)
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