Experts critical of gold bank proposal, say it won’t curb imports

A proposal by a Reserve Bank of India (RBI) panel to create an exclusive gold bank for tapping the idle stock of the precious metal has been received with scepticism by some economists and experts. The panel headed by K.U.B. Rao, an adviser to RBI’s department of economic and policy research, proposed on 6 February that the central bank set up the Bullion Corporation of India (BCI), which would undertake all wholesale gold transactions.

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