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Gold imports plunge 10 percent in fiscal 2016

May 06, 2016

Gold imports plunge 10 percent in fiscal 2016

Gold imports fell by close to 10 percent to 950 tonnes in the 2015-16 fiscal on poor domestic sales due to jewellers' strike and lack of global price parity, a top official of state-run MMTC said. #gold imports #Import duty #Tanishq #jewellers #Riddhi Siddhi Bullion #MMTC CMD Ved Prakash
Govt tweaks gold monetisation scheme to woo temples, now allows repayments in gold

Apr 02, 2016

Govt tweaks gold monetisation scheme to woo temples, now allows repayments in gold

India imports about 1,000 tonnes of gold every year and the precious metal is the second highest component of the imports bill after crude oil #gold imports #CAD #gold monetisation scheme #Shree Siddhivinayak temple #gold deposits #Tirupati Temple
Monetisation scheme: Tirupati, Siddhivinayak temples seek gold as return, not cash

Mar 24, 2016

Monetisation scheme: Tirupati, Siddhivinayak temples seek gold as return, not cash

TTD last month deposited 1.3 tonnes of gold with state-run Punjab National Bank at a rate of 1.75 percent for three years #Siddhivinayak temple #Jewellery #gold imports #gold monetisation scheme #gold deposit #Tirupati Temple #gold recycling
Banks to get commission for unlocking household gold - RBI| Reuters

Jan 22, 2016

Banks to get commission for unlocking household gold - RBI| Reuters

MUMBAI The government will pay banks a 2.5 percent commission to unlock the country's massive stash of gold under a new monetisation scheme, the RBI said, as the ambitious plan received a poor response from banks and customers. Prime Minister Narendra Modi launched the Gold Monetisation Scheme on Nov #Banks #gold imports #CAD #gold monetisation scheme #gold deposits
Gold bonds are a clear winner but high chances of deposit scheme becoming a flop show

Sep 10, 2015

Gold bonds are a clear winner but high chances of deposit scheme becoming a flop show

The government will find it difficult to pull off the gold monetisation scheme unless the banks and the government decide to offer attractive returns #Black money #gold imports #CAD #gold monetisation scheme #gold bond scheme
Reining in imports: Govt proposes gold-linked bonds at 2% interest, 5-7 year maturity

Jun 19, 2015

Reining in imports: Govt proposes gold-linked bonds at 2% interest, 5-7 year maturity

The government aims to issue bonds worth Rs 13,500 crore ($2.12 billion) or the equivalent of 50 tonnes of gold in the first year #gold bonds #gold imports #CAD