November 25, 2012 7:06 PM

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Gokarna expresses concern over rising gold imports

Deputy Governor of RBI Subir Gokarna has expressed concern over the growing import of gold in the Country. He was addressing the conference of Indian Bank association- BANKCON 2012 in Pune today.A working group to suggest measures for reducing the import of gold and to bring the domestic gold in economy was set up, he said. Report on this is being prepared by this group & it will be presented soon to the Central Government, he informed.The recommendations in this report envisage a gold based pension scheme for senior citizens, as well as SUVARNA SANCHAY YOJANA & a revamped Gold Deposit Scheme, he further said. The gold import has resulted in the significant increase in the business deficit which the country can never afford, he lamented.

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