The RBI and the government have already taken various steps to control the import of gold with a view to check CAD.
MUMBAI: The Reserve Bank on Saturday said it is not
contemplating any proposal to buy idle gold and convert it into bullion.
"The RBI clarifies that no such proposal is under its consideration at this juncture," the apex bank said in a statement. There have been media reports that the RBI is considering various options of converting idle gold, including that available with temple trusts, into bullion.
BJP leader Subramaniam Swamy said the BJP will oppose the government's reported move to take into possession the gold belonging to some temples in a bid to mitigate the crisis caused by the yellow metal. Bullion usually stands for gold in form of bars before coining.
"The RBI clarifies that no such proposal is under its consideration at this juncture," the apex bank said in a statement. There have been media reports that the RBI is considering various options of converting idle gold, including that available with temple trusts, into bullion.
BJP leader Subramaniam Swamy said the BJP will oppose the government's reported move to take into possession the gold belonging to some temples in a bid to mitigate the crisis caused by the yellow metal. Bullion usually stands for gold in form of bars before coining.
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