Monday, November 26, 2012

RBI considering four alternatives to gold

......Given Indians’ yen for gold and the pressure on the current account due to its import, the Reserve Bank of India is considering introducing four gold-related instruments to ease the physical demand for the yellow metal. The instruments are modified gold-deposit scheme (GDS), gold-linked account, gold-accumulation plan, and gold-pension plan, said RBI Deputy Governor Subir Gokarn at the Bankers Conference in Pune.......

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