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. Michael PiccoiniStrategic Planning, Leadership & Analysis Professional with a background in healthcare, manufacturing and retail. I have a strong understanding of the complex world of revenue Management and how to make it more relevant, understandable, and actionable for executive leadership across all levels of an organization. My career has spanned several years at UnitedHealth Group, Inc. I obtained my B. Comm from the University of Windsor and MBA from Wayne State University « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Wall Street’s Recession Reversal Echoes2007’s Optimism, Warns Expert READ MORE S&P 500 Nears Record High, Metals Shine Amid Dollar Dip READ MORE US Consumers Feel the Pinch as Inflation ConcernsLinger READ MORE Gold still has upside, despite new record high – BofA Securities READ MORE Central banks bolster gold reserves further in February, albeit at a slower pace READ MORE Add a Comment Cancel replyYour email address will not be published.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
