Monday, May 6, 2013

Curbing bank funds will spike prices,help grey mrkts:Jewellers

The Reserve Bank's decision to restrict bank finance to gold imports meant only for jewellery exports will jeopardise the supply system and increase prices apart from boosting grey market, an industry body has said."The RBI's restriction on the import of gold on consignment basis by banks only to meet the genuine needs of exporters of gold jewellery, will have repercussions on the industry...........

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