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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
Exports slide for 13th straight month in December to $22.2 bn

Jan 18, 2016

Exports slide for 13th straight month in December to $22.2 bn

Imports too plunged 3.88 percent to $33.9 billion in December over a year ago #oil imports #imports #december exports #trade deficit. gold imports
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
RBI brushes off concerns over gold import spike - for now

Apr 30, 2015

RBI brushes off concerns over gold import spike - for now

Weak oil and commodity prices are offsetting concerns at India's central bank over the impact of a spike in gold imports on the broader economy, officials say, even as the industry forecasts another three months of strong buying. #Gold #oil prices #gold imports #Akshaya Tritiya #Bachhraj Bamalwa
Khul ja sim sim: Rich temples may have to open gold vaults for PM Modi

Apr 10, 2015

Khul ja sim sim: Rich temples may have to open gold vaults for PM Modi

Prime Minister Narendra Modi wants to get his hands on this temple gold, estimated at about 3,000 tonnes, more than two thirds of the gold held in the US bullion depository at Fort Knox, Kentucky, to help tackle India's chronic trade imbalance. #Narendra Modi #ConnectTheDots #gold imports #Gold in Indian temples #Indian Temples #Rich Temples of India #Fort Knox #Shree Siddhivinayak temple #trade imbalance
RBI's decision to lift ban on import of gold coins the right move: World Gold Council

Feb 19, 2015

RBI's decision to lift ban on import of gold coins the right move: World Gold Council

The World Gold Council (WGC) said the RBI's decision to lift a ban on import of gold coins and medallions by banks and allowing them to import gold on a consignment basis was a right move. #Gold #RBI #Reserve Bank of India #World Gold Council #gold coins #Gold Import #Gold medallions #80:20 scheme #trading houses
Budget 2015: Govt may consider reducing gold import duty by 2-4%

Feb 05, 2015

Budget 2015: Govt may consider reducing gold import duty by 2-4%

The government may consider 2-4 percent reduction in gold import duty in the forthcoming Budget, a move that could help boost exports and manufacturing of gems and jewellery #Gold #Export #import #GEMS #Gold import duty #Budget2015 #jewellery sector #All India Gems and Jewellery Federation #Common Man Budget 2015 #Finance Budget 2015