.......Thanks to the Modi wave, RBI restored imports through select trading houses and jewellery manufacturers on May 21, 2014. The import/export ratio of 80:20 still remains. Even this irritant may be lifted soon. With likely re-liberalisation in the near future and higher GDP growth, these three organisations are likely to push imports to R65,000-75,000 crore or more in FY15 from R25,000 crore in FY14, at nominal service charge of maximum 0.1% versus an operating cost of 0.5%-1%. This also amounts to subsidisation for bullion traders. The same may be the case for banks as well for service charges............
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