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>> RESERVE BANK OF INDIA Latest News

JUN 06, 2013 - Zero Hedge

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India Central Bank Prohibits Sales Of Gold Coins

Two weeks ago, with its current account getting crushed by relentless gold imports, India's finance minister Finance Minister literally begged the people to stop buying gold. Judging by the popular response, the ongoing physical shortage, and last night's increase in Indian gold import duties from 6% to 8%, appealing to people's feeling when it comes to the choice of fiat vs physical, has failed miserably. So the FinMin Chidambaram has decided to escalate.  Per Reuters: "The Reserve Bank of India has advised banks against selling gold coins to retail customers, Finance Minister P. ... Read More

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