RBI imposes further restrictions on import of gold

The Reserve Bank of India has imposed more curbs on gold imports.

In a notification issued on Monday, the central bank said any authorisation such as Advance Authorisation or Duty Free Import Authorisation has to be utilised for import of gold meant for export purposes only, and added that no diversion for domestic use would be permitted.

The notification further states that entities or units in Special Economic Zones (SEZ) and Export Oriented Units, premier and star trading houses will be permitted to import gold for export only.