RBI wants data on gold import from SEZs, EOUs

MUMBAI: Reserve Bank of India (RBI) demands granular data on gold import by export oriented units (EOUs), units in special economic zones (SEZs)/export promotion zones, and nominated agencies/banks.

This move has come after witnessing nearly 50% growth in the imports of gold and precious metals being the prominent drivers of the present account deficit.

RBI aims to have statement on half yearly basis (end March/end September) displaying the quantity and value of gold imported and mode of payment.

The central bank wants a monthly statement showing the quantity and value of gold imports by the nominated agencies (other than the nominated banks)/EOUs/SEZs in Gem & Jewellery sector during the month under report. Moreover, it aims to garner knowledge about the cumulative position.