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The Gold (Control) Act, 1968 is a repealed Act of the Parliament of India which was enacted to control sale and holding of gold in personal possession. High demand for gold in India with negligible indigenous production results in gold imports, leading to drastic devaluation of the Indian rupee and depletion of foreign exchange reserves to alarming levels.
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The BIS Hallmark is a hallmarking system for gold as well as silver jewellery sold in India, certifying the purity of the metal. [1] [2] It certifies that the piece of jewellery conforms to a set of standards laid by the Bureau of Indian Standards, the national standards organization of India. India is the second biggest market for gold and its ...
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Gold smuggling was rampant in India until liberalisation, which repealed The Gold (Control) Act, 1968 that prohibited the import of gold except for jewellery. [4] In the 2011–12 period India's current account deficit burgeoned to 4.2% of its GDP. [5] This was due to high prices of oil and gold, which the country imports in huge volumes. [6]
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Get the Orlando, FL local weather forecast by the hour and the next 10 days. ... The Weather Channel 30 minutes ago ... This Rural North Dakota Home Came With A 40-Year Weather Legacy. Now ...