RBI report condemns ‘excessive’ gold demand

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A Reserve Bank of India working group believes the country's demand for gold imports is a major source of India's "bulging trade deficit" and must be curbed.

The working group was created to study gold-related issues, in particular whether large gold imports are a threat to India's external stability. In a draft report of its findings, released on January 2, the group raised concerns the gold-driven increase in India's current account deficit threatened its ability to maintain an adequate foreig

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