“Buying gold in India has got a little more difficult for consumers used to using plastic money to buy large jewellery sets or heavy gold ornaments. India’s apex bank has asked banks not to convert gold purchases done through credit cards into equated monthly installments. Continuing its fight against gold consumption, the Reserve Bank of India is leaving no stone unturned to discourage gold buyers in India. The ban on conversion of gold purchases at jewellery stores into equated monthly instalments for credit card purchases has already triggered a slump in sales.”
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=196913&sn=Detail
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