Govt to consult RBI in easing gold import cubs: FM

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.

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.

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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.