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India allows more banks to import gold in easing of curbs
By Siddesh Mayenkar and Neha Dasgupta
Reuters
Wednesday, March 18, 2014
MUMBAI -- India has allowed five domestic private-sector banks to import gold, in what industry officials say could be a significant step toward easing of tough curbs on the metal imposed last year to cut the country's trade deficit.
The move could boost gold supplies and bring down premiums for the metal in the world's second-biggest consumer after China.
The Reserve Bank of India has allowed gold imports by HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, and Yes Bank, officials at the respective banks told Reuters. ...
... For the full story:
http://in.reuters.com/article/2014/03/19/gold-india-imports-banks-idINDE...
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