Now Jewellery exporters can repay part of their gold loans in physical gold: RBI

On a review of extant instructions of Gold Monetisation Scheme, the RBI has decided to provide an option to jewellery exporters or domestic manufacturers of gold jewellery to repay a part of the GML in physical gold in lots of one kg or more. This GML has been extended out of locally sourced / GMS-linked gold. The repayment has to be made using locally sourced IGDS (India Good Delivery Standard)/ LGDS (LBMA’s Good Delivery Standards) gold.On a review of extant instructions of Gold Monetisation Scheme, the RBI has decided to provide an option to jewellery exporters or domestic manufacturers of gold jewellery to repay a part of the GML in physical gold in lots of one kg or more. This GML has been extended out of locally sourced / GMS-linked gold. The repayment has to be made using locally sourced IGDS (India Good Delivery Standard)/ LGDS (LBMA’s Good Delivery Standards) gold.taxmann.com Latest Statutory HappeningsRead More

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