India's FY14 gold, silver imports down 40 percent - govt source
NEW DELHI (Reuters) - Gold and silver imports into India, the world's second-biggest buyer of the metal, dropped 40 percent to $33.46 billion in 2013/14, a trade ministry source said on Friday, following a series of restrictions imposed by the government to curtail the current account deficit.
However, the fall in gold and silver imports narrowed in March, registering a fall of 17.27 percent from a year earlier to $2.76 billion, the source, who did not want to be named, told Reuters.
Last month, the Reserve Bank of India (RBI) allowed five more private banks to import the yellow metal, in what many saw it as a first significant step in easing of tough rules on imports.
(Reporting by Malini Menon; Writing by Siddesh Mayenkar; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- Xiaomi moves into third place in global smartphone war
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- U.S. nurse defies Ebola quarantine with bike ride; negotiations fail
The BSE Sensex and Nifty on Friday rose to their second consecutive record highs. The 30-share Sensex surged as much as 1.3 percent to an all-time high of 27,706.80. The broader Nifty gained as much as 1.28 percent to a record of 8,275.15. Full Article