|Chennai||Rs. 24840.00 (-0.36%)|
|Mumbai||Rs. 25460.00 (-0.16%)|
|Delhi||Rs. 25450.00 (2.21%)|
|Kolkata||Rs. 25000.00 (0%)|
|Kerala||Rs. 24700.00 (0%)|
|Bangalore||Rs. 25050.00 (1.42%)|
|Hyderabad||Rs. 24930.00 (1.63%)|
After last week's new Reserve Bank of India (RBI) policy on gold, the metal's import has stopped as the new norms have created confusion. "RBI is expected to clarify soon," an industry source said.
While linking gold import to exports, the central bank had reopened the conventional route. Last week, it declared that 20 per cent of all gold imports should be for providing to exporters. However, it also had removed all restriction on import through the consignment route and also removed the condition of 100 per cent cash margin for import against letter of credit. This was expected to increase import in the near term, while the linkage with exports was supposed to limit import in the medium term.