.......For nearly a week now, domestic banks have cut down on orders for gold coins to international bullion banks. Traders from the physical market said banks had stopped placing fresh orders for Swiss coins after the Reserve Bank of India (RBI) restricted imports on a consignment basis. The RBI notified the change in policy on Monday after making the announcement in its annual policy statement on May 3,2013.” Even as they are looking to get rid of the backlog of gold coins they hold, banks have more or less stopped placing fresh orders,” said a trader...........
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