Russia’s VTB Bank Begins Silver, Gold Exports to India

Reuters reported that Russia’s VTB Bank (MCX:VTBR) has started exporting gold and silver bullion to India; the first deliveries have taken place over the past few weeks.

As quoted in the market news:

Indian imports are under heavy pressure after New Delhi raised duties on the metal earlier this year to help reduce a fast-widening current account deficit.

India has historically been the world’s biggest consumer of gold, but it is expected to be surpassed by China this year because of the import curbs.

Click here to read the full Reuters report.