In the wee hours of Wednesday, the Directorate of Revenue Intelligence (DRI) sleuths made a shocking discovery when they pounced on a family of smugglers ferrying, blood diamonds worth Rs2.12 crore, near Memco on the city’s outskirts. They also found 1.5 kg gold worth Rs50 lakh with the smugglers. This discovery couldn’t come sooner. For on Wednesday, RBI governor Raghuram Rajan said curbs on gold import would incentivise smuggling of the precious metal, while he was addressing the RBI’s third mid-quarter review of monetary policy...............
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