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Govt to consult RBI on easing gold import curbs - finance minister
March 31, 2014 / 11:23 AM / in 4 years

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

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.

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

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

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