BUSINESS

High inflation prompting more gold buys: RBI chief

By Shamik Paul
March 05, 2013 15:17 IST

Reserve Bank of India Governor Duvvuri Subbarao expressed concern that high inflation was forcing people to indulge in buying gold rather than depositing funds with banks.

The government has announced several measures to discourage people from buying gold and prodding them to invest in financial instruments.

Deposits were up 11.2 percent in the first 10 months of financial year 2012-13, compared with 11.5 percent in the same period a year ago.

Subbarao

was speaking at the convocation ceremony of a banking and finance institute in Pune.

Speak to experts on Live Chat!

Union Budget, as it unfolded on February 28

Complete coverage: Union Budget 2013-14

Budget Impact Live!

Shamik Paul in Pune
Source: REUTERS
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Recommended by Rediff.com

NEXT ARTICLE

NewsBusinessMoviesSportsCricketGet AheadDiscussionLabsMyPageVideosCompany Email