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Finance Ministry recommends CBI probe into 80 kg of missing gold from IGI Airport

Finance Ministry recommends CBI probe into 80 kg of missing gold from IGI Airport

Gold worth at least Rs 25 crore seized from smugglers has mysteriously disappeared from customs vaults at Indira Gandhi International Airport here, prompting the authorities to order a CBI probe.

Man held with gold worth Rs 10 lakh hidden in rectum at Bengaluru airport

Man held with gold worth Rs 10 lakh hidden in rectum at Bengaluru airport

The accused, Vijay Ashok Kumar Wadwani from Thane in Maharashtra, was hiding the 330 grams of gold biscuits in his rectum.  

Two French nationals caught smuggling gold worth over Rs 60 lakh

The duo had arrived in Mumbai from Dubai via Bahrain.

Gold imports likely to touch 1,000 tonnes this year, up 11%

Gold imports likely to touch 1,000 tonnes this year, up 11%

Buoyed by sharp fall in gold prices globally, India is likely to see a jump of 11 percent in imports of the metal to 1,000 tonnes this year.

 

Gold smuggling through airports rises in 3 years

Gold smuggling through airports increased in three years to 2014-15 and the government seized Rs 429.84 crore precious metal till mid-November this fiscal at different aerodromes in the country, Parliament was informed Friday.

Customs seize gold worth Rs 1.19 crore at Mumbai international airport

The Air Intelligence Unit (AIU) of Mumbai Customs Thursday detected five cases of gold smuggling at the Chatrapati Shivaji international airport here and seized 4.78 kg of gold worth Rs 1.19 crore.

International airports across India on alert to check gold smuggling

International airports across India on alert to check gold smuggling

Internationals airports across the country have been put on alert to check gold smuggling which might rise because of forthcoming festivals like Diwali and marriage season.

Majority of gold from Dubai and Singapore smuggled into India

Majority of gold from Dubai and Singapore smuggled into India

With demand for gold increasing in the country, majority of gold from Dubai and Singapore are being smuggled into India due to the price differentiation, a senior Directorate of Revenue Intelligence official said.

Rise in gold smuggling at IGI Airport; about 100 arrested

 Cases of gold smuggling have shot up at Indira Gandhi International Airport (IGIA) here, with customs officials seizing yellow metal worth over Rs 76 crore and arresting about 100 people so far this fiscal.

Several steps taken by govt to check gold smuggling: Sinha

Several initiatives have been taken by the government to check gold smuggling, including regular rummaging of aircrafts and scanning of passenger baggages to detect concealment, Parliament was informed Tuesday.

Gold import curbs may have led to rise in smuggling activity

Import restrictions on gold may have led to increase in smuggling of the precious metal in recent years, Parliament was informed Friday.

1,102 gold smuggling cases at Mumbai airport in 12 months

Five employees of airlines and seven of airport involved in smuggling of gold were also arrested.

With seizures up, Indian gold smuggling loses its shine

Seizures at the airport, one of India`s biggest hubs, jumped almost nine fold to 604 kg in the period running from April to September 2014 against 70 kg in the same period a year ago. 

With seizures up, Indian gold smuggling loses its shine

Seizures at the airport, one of India`s biggest hubs, jumped almost nine fold to 604 kg in the period running from April to September 2014 against 70 kg in the same period a year ago. 

Commerce Minister for easing of gold import restrictions

With restrictions on gold imports leading to rise in smuggling, Commerce and Industry Minister Nirmala Sitharaman has pitched for relaxing gold import duty as it is 'badly' hurting the gems and jewellery industry.

Gold smuggling may rise if customs duty not lowered: Experts

In 2013, the government had hiked the Customs duty on gold in phases to 10 percent to control gold import and to bring down the CAD.

'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.

India's gold demand down 26% at 190.3 tonne: WGC

In value terms, gold demand witnessed a fall of 33 percent to Rs 48,853 crore during the first quarter of 2014.

Curbs on gold import norms leading to smuggling: Sharma

Commerce and Industry Minister Anand Sharma has favoured a review of curbs on gold import norms saying the restrictions are leading to smuggling.

Govt tightens checks to curb gold smuggling

"Government agencies are raiding and seizing gold at various places and asking to reconcile the (gold bar) number with the imported gold," said India Bullion and Jewellers Association (IBJA) general secretary Surendra Mehta.