India's RBI discusses gold exchange

INDIA - Reserve Bank of India's Deputy Governor Y V Reddy has proposed setting up an exchange for trading in gold as part of the efforts to develop the precious metal's market in the country and integrate it with the financial market.

"Establishment of a Gold Exchange would help in efficient price discovery and emergence of healthy and transparent practices in the market," Reddy said at a conference organised by World Gold Council here Thursday.

He asked the banks to come forward with their ideas

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