Currently, banks account for about 60 per cent of the total gold import.
NEW DELHI(BullionStreet): World's largest gold consumer India on Wednesday came up with yet another plan to check climbing gold demand.
An RBI panel proposed a slew of measures like mandatory quoting of PAN numbers for high-value purchases, restriction on gold loans and check on NBFC branches dealing with gold loans.
The panel also suggested cheque payment for gold purchase beyond a threshold, introduction of other savings products to discourage investment in physical gold, prohibition of bank finance for buying gold and revival of the two-decade old proposal to set up a Bullion Corporation.
Indian central bank is also planning to impose limits on volume and value of gold import by banks under extreme situation. ...