2024-03-13 09:57:58 am | Source: Reuters
India allows RBI to import gold without paying import levies
India has allowed its central bank to import gold without paying import levies, the government said in a notification issued late on Tuesday.
Gold importers from the world's second biggest gold consumer need to pay basic customs duty and Agriculture Infrastructure and Development Cess (AIDC).
As of September 2023, the Reserve Bank of India held 800.79 metric tonnes of gold, including gold deposits of 39.89 tonnes.
Of that, 388.06 tonnes is held overseas and 372.84 tonnes is held domestically, according to the RBI's latest reserve management report.
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
MOSt Market Roundup : Nifty future closed negative w...
Evening Track : Commodities trading mixed as Preside...
Quote on Nifty by Vatsal Bhuva, Technical Analyst at...
Quote on Pre-Budget Expectations by Mr. Sebi Joseph,...
Union Budget 2025 wish list by Mr. George Alexander ...
Quote on Market Wrap by Mr. Ajit Mishra ? SVP, Resea...
PhonePe celebrates Mahakumbh mela with Rs 144 flat c...
Quote on Market Wrap Up by Shrikant Chouhan, Head Eq...
2025 Fashion Trends: Insights into the Colors, Style...
Daily Market Commentary : Investors will closely tra...
