Gold

Lending against Gold Jewellery

RBI/2013-14/453 DBOD.BP.BC.No.86 /21.01.023 /2013-14 January 20, 2014 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Lending against Gold Jewellery Please refer to our circular DBOD.No.BC.138/21.01.023/94 dated November 22, 1994 on ˜Advances against Gold Ornaments and Jewellery for the purpose of Medical Expenses and Meeting Unforeseen Liabilities™, wherein banks were advised that while granting advances against… Read More

Tags: Board of directorsGoldIndiaJewelleryLoanLoan-to-value ratioMumbaiRajesh Verma

Customs Duty on Articles of Jewellery, Gold and Silver wares revised

As part of measures to contain the current account deficit, the customs duty on gold has been revised upwards periodically in the past two years. Prior to 17th January 2012, the import duty on standard gold (of purity 99.5% & above) was Rs. 300 per 10 gm. The duty was raised to 2% w.e.f. 17th… Read More

Tags: GoldIndiaJanuary 2012JewelleryPrecious metalSilverTariff

Revised Scheme for Import of Gold

Certain restrictions were imposed on the import of various forms of gold by nominated banks/nominated agencies/ premier or star trading houses/SEZ units/EoUs which have been permitted to import gold for use in the domestic sector. On a review of the above instructions and in consultation with Government of India, it has been decided to rationalize… Read More

Tags: GoldGovernment of IndiaImportJewelleryJuly 22 2013Reserve Bank of IndiaRun batted in

Import of Gold by Nominated Banks /Agencies

RBI/2012-13/557 A.P. (DIR Series) Circular No. 122 June 27, 2013 To All Scheduled Commercial Banks which are Authorised Dealers (ADs) in Foreign Exchange/ All agencies nominated for import of gold Madam/Sir Import of Gold by Nominated Banks /Agencies Attention of Authorised Persons is drawn to our A.P. (DIR Series) Circular No. 103 dated May 13, 2013 & A.P.… Read More

Tags: Commercial bankFederal Emergency Management AgencyForeign Exchange Management ActGoldGovernment of IndiaImport

Import of Gold by Nominated Banks /Agencies

RBI/2012-13/520 A.P. (DIR Series) Circular No.107 June 4, 2013 To All Scheduled Commercial Banks which are Authorised Dealers (ADs) in Foreign Exchange/ All agencies nominated for import of gold Madam/Sir Import of Gold by Nominated Banks /Agencies Attention of Authorised Persons is drawn to our A.P. (DIR Series) Circular No. 103 dated May 13, 2013 on the… Read More

Tags: ExportForeign Exchange Management ActGoldGovernment of IndiaImportLetter of creditReserve Bank of India

Import of Gold by Nominated Banks /Agencies

RBI/2012-13/520 A.P. (DIR Series) Circular No.107 June 4, 2013 To All Scheduled Commercial Banks which are Authorised Dealers (ADs) in Foreign Exchange/ All agencies nominated for import of gold Madam/Sir Import of Gold by Nominated Banks /Agencies Attention of Authorised Persons is drawn to our A.P. (DIR Series) Circular No. 103 dated May 13, 2013 on the… Read More

Tags: Commercial bankForeign Exchange Management ActGoldGovernment of IndiaImportLetter of creditReserve Bank of India

RBI Clarification on NBFCs finance for Purchase of Gold

RBI/2012-13/510 DNBS.CC.PD.No.326/03.10.01/2012-13 May 27, 2013 To All NBFCs Dear Sir, NBFCs  finance for Purchase of Gold In terms of extant guidelines issued vide circular DNBS.CC.PD.No.265/03.10.001/2012-13 dated March 21, 2013 no advances should be granted by NBFCs against bullion / primary gold and gold coins. 2. It is clarified that no advances should be granted by NBFCs… Read More

Tags: Exchange-traded fundGoldGold coinGold exchange-traded productMutual fundPrecious metalReserve Bank of IndiaRun batted in

Import of Gold by Nominated Banks/Agencies

RBI/2012-13/499 A.P.(DIR Series) Circular No.103 May 13, 2013 To, All Scheduled Commercial Banks which are Authorised Dealers in Foreign Exchange Madam/Sirs Import of Gold by Nominated Banks/Agencies Attention of Authorised Persons is invited to paragraph 97 of the Monetary Policy Statement 2013-14 dated May 3, 2013 regarding import of gold. In terms of AD (G.P.Series) circular No.7… Read More

Tags: Foreign Exchange Management ActGoldImportMonetary policyReserve Bank of IndiaWorking Group

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