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'Set up gold bank, gold deposit a/c to minimise smuggling'

The government should establish a gold bank and introduce a gold deposit account operated through scheduled commercial banks to minimise smuggling of the yellow metal, industry body Assocham said Wednesday.

RBI panel revives Manmohan Singh's 1992 idea of 'Gold Bank'

An RBI panel has revived the proposal of setting up a gold bank, or Bullion Corporation of India, to reduce imports of the metal-- an idea mooted over two decades ago by the then Finance Minister Manmohan Singh.