"The Ministry of Trade will review the opinions of shareholders about the policy before June, and by August will present a proposal to the Ministry of Finance" - the official added.
Earlier this year, the former head of the Reserve Bank of India (RBI) Venugopal Reddy said that the government needs to develop a comprehensive "gold policy" because of the large role of the metal in the economy.
"It is time for a positive approach to policy in relation to gold should be positive comprehensive gold policy, and I believe that the economy is very important, as this segment is dependent on a lot of people." - he said. Reddy also claimed that gold is considered the "base" currency of the world, and in India it is a part of Indian culture, while for women it serves as insurance in the event of unforeseen circumstances.
Meanwhile, the government of Narendra Modi has taken a number of steps to formalize and better monitoring of trade in gold in the country. All probing the precious metal has become mandatory since last year. The government has also launched a special scheme of gold and made mandatory to provide a taxpayer identification number when purchasing products worth over 2,000 crore. All of these steps indicate the seriousness of the government's intentions to make gold in the country of ordinary commodities.
In addition, the Ministry of Finance is also developing a policy of auctions for gold, deposited in banks for monetization scheme. This will open up a new opportunity for the purchase of precious metals by jewelers, as well as mark the full deployment of the scheme, which was launched for cutting import Prime Minister Modi in November 2015 and to reduce the current account deficit.
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As a result of restructuring of the Rio Tinto Group, Jean-Marc Lieberherr (Jean-Marc Lieberherr), managing director of Rio Tinto Diamonds, is leaving the company. This was confirmed by the office Rio Tinto in Australia.
Lieberherr news of the resignation came as a surprise for the global diamond industry. The announcement has been published on the Rio Tinto website, and subscribers to the news did not get any press release on this subject. Jean-Marc Lieberherr worked at Rio Tinto for ten years.
According to the media, Lieberherr, who served as managing director for two and a half years, will replace Simon Trott (Simon Trott). Trott, currently holding the position of Managing Director of Rio Tinto businesses on salt mining and uranium, will retain those responsibilities. With experience of over 18 years in the mining industry, he led enterprises in different sectors of the global industry.
Trott will continue to comply with Alan Davis (Alan Davies), executive director of diamond mining and minerals division, who said: "Simon has a wealth of experience to guide in this role. Rio Tinto does not change our commitment to the diamond industry, our customers and other industry partners, who play an important role in our success now and will play in the future. "
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