Govt to consult RBI on easing gold import curbs - finance minister

NEW DELHI Mon Mar 31, 2014 4:49pm IST

An employee shows a gold bangle to a customer inside a jewellery showroom in Mumbai August 30, 2013. REUTERS/Danish Siddiqui/Files

An employee shows a gold bangle to a customer inside a jewellery showroom in Mumbai August 30, 2013.

Credit: Reuters/Danish Siddiqui/Files

Related Topics

NEW DELHI (Reuters) - The government will consider easing curbs on gold imports in consultation with the Reserve Bank of India (RBI), Finance Minister P. Chidambaram told a news conference on Monday.

India, which used to be the No. 1 buyer of gold before the government slapped a record 10 percent import tax and put in place other restrictions to cut ballooning trade deficit, has recently allowed five private banks to import the metal.

(Reporting by Rajesh Kumar Singh; editing by Malini Menon)

FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage