“India’s central bank announced more stringent measures for gold imports by banks in it’s annual monetary statement. Analysts said the move is likely to impact country’s gold imports this year. The central bank said banks will be allowed to import bullion on a consignment basis to meet only genuine needs of exporters of gold jewelry. RBI will issue detailed guidelines on gold imports by authorized banks by the end of this month after it sees banks also import gold on an unfixed price basis and loan basis, according to the central bank.”

http://www.bullionstreet.com/news/rbi-policies-to-curb-india-gold-imports/4662

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