Banks' aversion to higher interest may hurt India plan to draw out gold stocks
Indian lenders do not want to raise interest on gold deposits much beyond 1 percent, bankers said, which could derail a government plan to cut massive imports by mobilising tonnes of gold now stored in households and temples.
Aug 22, 2015, 14:55 PM ISTGood interest rate must for success of gold scheme: Nomura
At present, banks are offering an interest of up to 1 percent on gold deposits and the same needs to be "much higher" for the new scheme to succeed.
May 22, 2015, 18:59 PM IST