.........A large part of this is due to the stiff measures to curb gold imports being put into place by the Reserve Bank of India (RBI). RBI has been battling a rising tide of current account deficit (CAD) and has quite rightly clamped down on import of gold. The fall in CAD to 3.6 per cent of gross domestic product in the last quarter of FY13 will bring some cheer to RBI, but the apex bank is unlikely to change its policy on imports..................
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