RBI eases gold import curbs

Mumbai: The Reserve Bank on Wednesday eased gold import norms by allowing select trading houses, in addition to already permitted banks, to procure the precious metal to boost exports.
The decision to ease the restriction follows representations from jewellers, bullion dealers, banks, and trade bodies. “Taking into account such representations, it was decided to modify the guidelines for import of gold by the nominated banks/agencies/entities,” the RBI said.