MUMBAI: The Reserve Bank of India extended restriction on gold import on consignment basis to all nominated agencies involved in gold imports including star trading houses, besides further tightening gold import procedures.
Earlier on May 13, the RBI had announced its decision to restrict gold imports on consignment basis by banks, only to meet the genuine needs of the exporters of gold jewellery. "It has now been decided to extend the provisions of this circular to all nominated agencies/ premier/star trading houses who have been permitted by government of India to import gold." The RBI said in a circular issued to bank on Tuesday.
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