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Govt to consult RBI in easing gold import cubs: FM

Reuters  New Delhi, March 31, 2014
First Published: 17:08 IST(31/3/2014) | Last Updated: 17:10 IST(31/3/2014)

The government will consider easing curbs on gold imports in consultation with the Reserve Bank of India (RBI), Finance Minister P. Chidambaram told a news conference on Monday.

India, which used to be the No. 1 buyer of gold before the government slapped a record 10 percent import tax and put in place other restrictions to cut ballooning trade deficit, has recently allowed five private banks to import the metal.

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