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‘RBI right in lifting ban on importing gold coins’

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10 years ago

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New Delhi: The World Gold Council (WGC) Thursday said the RBI’s decision to lift a ban on import of gold coins and medallions by banks and allowing them to import gold on a consignment basis was a right move.

“These are important clarifications in the right direction, following removal of 80:20 import restriction and definitely positive for the industry, restoring previous position. It is the right time to look at all aspects of gold policy with a longer term perspective, going beyond just import policy and incremental changes,” said Somasundaram PR, managing director, WGC India.

“The focus of the government must be on making gold a smoothly fungible asset in hands of the millions of households,” he said.

The Reserve Bank of India (RBI) said in a circular Feb 18: “Nominated banks are now permitted to import gold on consignment basis. All sale of gold domestically will, however, be against upfront payments. Banks are free to grant gold metal loans.”

“While the import of gold coins and medallions will no longer be prohibited, pending further review, the restrictions on banks in selling gold coins and medallions are not being removed,” it said.

However, the RBI has clarified in the circular: “The obligation to export under the 20:80 scheme will continue to apply in respect of unutilised gold imported before Nov 28, 2014, that is the date of abolition of the 20:80 scheme.”

With this decision the RBI has taken the situation as was before July 2013 when nominated banks could import gold just by showing delivery and they did not have to show the end-use.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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