A Reserve Bank of India (RBI) brand is seen inside its headquarters in Mumbai. File
| Photo Credit: Reuters
India has allowed its central financial institution to import gold with out paying import levies, the federal government mentioned in a notification issued late on March 12.
Indian gold importers have to pay fundamental customs responsibility and Agriculture Infrastructure and Development Cess (AIDC).
As of September 2023, the Reserve Bank of India held 800.79 metric tonnes of gold, together with gold deposits of 39.89 tonnes. Of that, 388.06 tonnes is held abroad and 372.84 tonnes is held domestically, in line with the RBI’s newest reserve administration report.
Source: www.thehindu.com
