November 12, 2013 9:00 AM

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RBI imposes further restrictions on Gold import

The Reserve Bank of India has issued a notification regarding further curbs on gold imports. The notification issued yesterday said that any authorisation such as Advance Authorisation or Duty Free Import Authorisation has to be utilised for import of gold meant for export purposes only and no diversion for domestic use shall be permitted. The notification added that entities or units in the SEZ and Export Oriented Units, premier and star trading houses will be permitted to import gold exclusively for the purpose of export only.

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