India Grants RBI Levy-Free Gold Imports Gold bars are displayed at a gold jewellery shop in the northern Indian city of Chandigarh May 8, 2012. MUMBAI, March 13 (Reuters) – 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. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts What is a Troy Ounce? READ MORE Economic Recession and Yen Depreciation Push Japan Behind Germany READ MORE Oil Prices Reach 8-Week Highs: U.S. Stockpile Drop and China's Stimulus Fuel Surge READ MORE Gold Prices Waver as Markets Await Inflation and Fed Signals READ MORE De-Dollarization: Cross-Border Payment Platform to Include Currencies from Pakistan, India, and Chin READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
