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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Is India Seriously Considering A Gold Import Ban?

Posted on 16 November 2016

Trade body Indian Bullion & Jewellers Association (IBJA) has created a flutter among some of its 2500 members by informing them through a text message that the government might ban imports of gold into the country until the end of the current fiscal year (FY17) and advance the last date of deposit of old notes for jewellers to November 15 to crackdown on black money.
“We hear from certain circles of this possibility (gold import ban and advancement of deposit date) though nothing official is out yet,” said Surendra Mehta, national secretary, IBJA. “The association is supportive of the government’s fight against black money and has informed its members of the possibility of such action. We have asked our members to support the government wholeheartedly.”…………………………………Full Article: Source


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