Thursday, January 3, 2013

Design innovative financial instruments to curb appetite for gold: RBI tells banks

........"Demand for gold will come down commensurately with the availability of alternative instruments for investment with real rates of return. The fact that major portion of individuals' savings are channeling into physical assets, such as, gold and real estate indicates that there is vast scope for the banking system to take advantage of these opportunities." The Reserve Bank's suggestions came on the day when Finance Minister P Chidambaram said the government is considering steps to make gold imports more expensive........

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