10.12.2014 - India should allow banks to hold gold as reserves: WGC
India should allow banks to use gold as part of their liquidity reserves, which would let them make more use of gold inside the country and reduce the need for imports, an industry body said on Tuesday, seeing that as an alternative to import curbs. The world's second-biggest consumer of the metal should also consider setting up an exchange for transparent gold pricing and to streamline trade, according to a report commissioned by the World Gold Council (WGC). "We have made our points to the government and some of these recommendations are in consideration," said Somasundaram PR, head of the WGC's India operations. He did not elaborate...............................................Full Article: Source
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