In order to reduce the domestic consumption of gold, the Reserve Bank of India (RBI) mandated importers of the yellow metal to export 20 percent of the gold from the arrived consignment. Presently, a very small portion of gold is exported and the above move is expected to boost re-export of gold.
Of the 970 tonnes of gold imported last year, only 70 tonn
Tag: foreign
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RBI wants traders to export 20% of imported gold
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RBI steps may not rein in rupee weakness: economists
Some analysts feel that the recent moves by Reserve Bank of India (RBI) to arrest rupee depreciation may not be effective. It may be recalled that the central bank further tightened rupee liquidity by restricting the borrowing of banks under the daily liquidity adjustment facility (LAF)
to 0.
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RBI suggests steps to increase returns from foreign investment
In order to increase the size of returns from huge investments made abroad by Indian firms, the Reserve Bank of India (RBI) some tax exemptions on such returns. RBI wants to increase the size of such returns, which form part of the current account of the Balance of Payment, in order to address the rising deficit in the acco