The Business Times
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India scraps 20% export rule for gold imports: TV channels

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Published Fri, Nov 28, 2014 · 02:32 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    [MUMBAI] India has decided to scrap the rule that required trading companies to export 20 per cent of gold imported, known as 80:20 scheme, local television channels reported on Friday, citing unnamed government sources.

    The curb was imposed last year to bring down gold imports which had pushed India's current account deficit to a record high in the fiscal year ended March 2013.

    A finance ministry spokesman told Reuters he had no information on the matter.

    REUTERS

    IndiaGold

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