RBI Might Limit Bank Gold Imports to Ease Account Deficits

Reuters reported that the Royal Bank of India is considering the possibility of limiting gold import by banks in an attempt to curb a rising account deficit.

As quoted in the market report:

But a record high current account deficit of 5.4 percent of GDP in the September quarter has raised concern at the central bank, prompting it to link further monetary policy easing to a lower current account deficit (CAD).

To view the whole Reuters report, click here.