Restriction on Gold Import has been eased by The Reserve Bank of Indian (RBI) on Wednesday. Last year the restriction were imposed to block the rise of the current account deficit of India. “Star trading houses”, private jewellery exporters have been allowed by RBI to import gold with immediate effect. 
In 2013, Gold import duty were raised from 4 percent to 10 percent and also there was the restriction of exporting 20 percent of the imported gold to be exported. This is also known as 80:20 rule.
This entry was posted on Wednesday, May 21st, 2014 at 6:29 pm and is filed under Gold. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.