A Reserve Bank of India (RBI) panel has revived the proposal of setting up a gold bank, or 'Bullion Corporation of India', to reduce imports of the metal- an idea mooted over two decades ago by Manmohan Singh, the Minister of Finance at the time. "With considerable changes in policy related to gold over the past 20 years, the proposal for setting up a Bullion Corporation of India (BCI) needs to be revisited and activated," a committee, headed by K U B Rao, to study the issue of gold imports said in its final report...........
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