......"We are concerned about gold, lending against gold by non-bank finance companies (NBFCs) because of financial stability concerns and we have been concerned about gold from an external management perspective because of the pressure it puts on current account or capital account depending on your account for it," he explains. Subbarao was speaking at the Indira Gandhi Institute of Development Research (IGIDR) annual conference. However, he clarifies that RBI has not put any fresh restriction on gold but only barred banks from lending for purchase of gold...........
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