Gold Import Norms
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Centre Says Will Take Action On P Chidambaram Relaxing Gold Import Norm
Stepping up the heat on former finance minister P Chidambaram, the government on Monday said it will take action against the persons who relaxed gold import norms for private trading houses during the dying days of the UPA regime resulting in a windfall of Rs 4,500 crore to 13 such entities in just six months.
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India Tightens Gold Import Norms For Nominated Agencies
Some agencies were taking advantage of India's free trade agreement with neighbouring countries, according to experts
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Jewellers Soar as RBI Allows Gold Loans, Eases Import Norms
Jewellery makers jumped on Thursday after the Reserve Bank allowed lenders to provide gold on loan to jewellers. The measure will enable jewellers to get 180-day credit from banks for buying gold and will reduce their working capital obligations, analysts say.
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Clarification Likely on Gold Imported Under '80:20' Norm
Gold imports prior to abolition of the 80:20 scheme may not be subject to restrictive provisions imposed by the Reserve Bank of India (RBI) to contain import of the precious metal.
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RBI Chief Hints Governments May Change Duty Import Structure for Gold
Hinting that government may change duty structure for gold, Reserve Bank of India Governor Raghuram Rajan on Tuesday said the 80:20 import curb was scrapped to remove distortions it was creating in the precious metal trade.
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Government Will Review Gold Import Norms: RBI Chief
Reserve Bank of India (RBI) Governor Raghuram Rajan said the decision to scrap a rule mandating traders to export 20 per cent of all gold imported into the country was a "reasonable" one and the government will review its gold import policies.
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Government Eases Gold Import Rules in Surprise Move
The government has scrapped a rule mandating traders to export 20 per cent of all gold imported into the country, in a surprise move that could cut smuggling and raise legal shipments into the world's second biggest consumer of the metal after China.
-
RBI Cautious on Response to Gold Import Surge: Report
India, the world's second-largest gold consumer over the past year, is wrestling with its response to a fourfold jump in gold imports in October. That spike raised fresh concerns over the strain to the country's balance of payments.
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No Decision Yet Over Restriction on Gold Imports: Commerce Minister
The government will take a decision on easing of restrictions on gold imports after studying the issue in detail, Commerce and Industry Minister Nirmala Sitharaman said on Friday.
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Government May Reimpose Curbs on Gold Imports
The government is mulling over reimposing some restrictions on gold imports after Diwali as higher inward shipments of the metal in the last few months have pushed up the trade deficit, a government official said.
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India's Q1 Gold Jewellery Imports Rise by 10 Per Cent: Industry Body
India's gold jewellery imports surged 10 per cent to Rs 696.44 crore in the first quarter of this fiscal year as high premium on the yellow metal following tough import norms forced traders to get finished jewellery from abroad, the Gem Jewellery Export Promotion Council (GJEPC) said.
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Gold Prices May Fall on RBI Easing Import Curbs: Ficci
The RBI had earlier eased gold import norms by allowing select trading houses, in addition to already permitted banks, to procure the precious metal to boost exports.
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Gold Prices May Decline to Rs 24,000 by Diwali: Industry Body
Following the Reserve Bank of India easing the 20:80 gold import norms, India Bullion & Jewellers Association (IBJA) on Thursday said gold prices are likely to fall to Rs 23,000-24,000 per 10 grams by Diwali as it also expects the customs duty reduction in the forthcoming budget.
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RBI Move to Ease Gold Import Norms to Up Official Supplies: Gold Council
Further, he said, RBI's decision to permit the nominated banks, to give Gold Metal Loans (GML) to domestic jewellery manufacturers out of the eligible domestic import quota of 80 per cent will also relax some cost pressures that the jewellers were facing in past few months.
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Jewellery Stocks Rally 20% as RBI Eases Gold Import Norms
The RBI's move will enable banks to offer gold on lease to domestic jewellers. Jewellers can now take gold on lease from banks for a period of 180 days, a move that will help companies like Titan to bring down their finance cost and will lead to higher profitability.
-
Centre Says Will Take Action On P Chidambaram Relaxing Gold Import Norm
Stepping up the heat on former finance minister P Chidambaram, the government on Monday said it will take action against the persons who relaxed gold import norms for private trading houses during the dying days of the UPA regime resulting in a windfall of Rs 4,500 crore to 13 such entities in just six months.
-
India Tightens Gold Import Norms For Nominated Agencies
Some agencies were taking advantage of India's free trade agreement with neighbouring countries, according to experts
-
Jewellers Soar as RBI Allows Gold Loans, Eases Import Norms
Jewellery makers jumped on Thursday after the Reserve Bank allowed lenders to provide gold on loan to jewellers. The measure will enable jewellers to get 180-day credit from banks for buying gold and will reduce their working capital obligations, analysts say.
-
Clarification Likely on Gold Imported Under '80:20' Norm
Gold imports prior to abolition of the 80:20 scheme may not be subject to restrictive provisions imposed by the Reserve Bank of India (RBI) to contain import of the precious metal.
-
RBI Chief Hints Governments May Change Duty Import Structure for Gold
Hinting that government may change duty structure for gold, Reserve Bank of India Governor Raghuram Rajan on Tuesday said the 80:20 import curb was scrapped to remove distortions it was creating in the precious metal trade.
-
Government Will Review Gold Import Norms: RBI Chief
Reserve Bank of India (RBI) Governor Raghuram Rajan said the decision to scrap a rule mandating traders to export 20 per cent of all gold imported into the country was a "reasonable" one and the government will review its gold import policies.
-
Government Eases Gold Import Rules in Surprise Move
The government has scrapped a rule mandating traders to export 20 per cent of all gold imported into the country, in a surprise move that could cut smuggling and raise legal shipments into the world's second biggest consumer of the metal after China.
-
RBI Cautious on Response to Gold Import Surge: Report
India, the world's second-largest gold consumer over the past year, is wrestling with its response to a fourfold jump in gold imports in October. That spike raised fresh concerns over the strain to the country's balance of payments.
-
No Decision Yet Over Restriction on Gold Imports: Commerce Minister
The government will take a decision on easing of restrictions on gold imports after studying the issue in detail, Commerce and Industry Minister Nirmala Sitharaman said on Friday.
-
Government May Reimpose Curbs on Gold Imports
The government is mulling over reimposing some restrictions on gold imports after Diwali as higher inward shipments of the metal in the last few months have pushed up the trade deficit, a government official said.
-
India's Q1 Gold Jewellery Imports Rise by 10 Per Cent: Industry Body
India's gold jewellery imports surged 10 per cent to Rs 696.44 crore in the first quarter of this fiscal year as high premium on the yellow metal following tough import norms forced traders to get finished jewellery from abroad, the Gem Jewellery Export Promotion Council (GJEPC) said.
-
Gold Prices May Fall on RBI Easing Import Curbs: Ficci
The RBI had earlier eased gold import norms by allowing select trading houses, in addition to already permitted banks, to procure the precious metal to boost exports.
-
Gold Prices May Decline to Rs 24,000 by Diwali: Industry Body
Following the Reserve Bank of India easing the 20:80 gold import norms, India Bullion & Jewellers Association (IBJA) on Thursday said gold prices are likely to fall to Rs 23,000-24,000 per 10 grams by Diwali as it also expects the customs duty reduction in the forthcoming budget.
-
RBI Move to Ease Gold Import Norms to Up Official Supplies: Gold Council
Further, he said, RBI's decision to permit the nominated banks, to give Gold Metal Loans (GML) to domestic jewellery manufacturers out of the eligible domestic import quota of 80 per cent will also relax some cost pressures that the jewellers were facing in past few months.
-
Jewellery Stocks Rally 20% as RBI Eases Gold Import Norms
The RBI's move will enable banks to offer gold on lease to domestic jewellers. Jewellers can now take gold on lease from banks for a period of 180 days, a move that will help companies like Titan to bring down their finance cost and will lead to higher profitability.
