Mohit Kamboj claims he had settled all dues. Bank officials allegedly abused official position to help Kamboj and the other accused go for a one-time settlement, leading to heavy losses
In an interview with CNBC-TV18's Manisha Gupta, a panel of commodity experts outlined the current demand outlook for gold and the investment prospects in the precious metal at present levels.
The jewellery industry in the world's second largest consumer continues to be dominated by small, family-owned outlets that are not part of any formal grouping, making it difficult for the government to implement regulatory changes and keeping the market opaque.
Gold imports during the second quarter of 2012 stood at 131 tonnes, according to the World Gold Council. Last week, the government increased import duty on gold to eight percent, the second such hike within six months to put a check on gold imports.
Even as the government is taking measures to curb gold consumption, the import of yellow metal is projected to go up to about 215 tonnes in the first quarter this year amid decline in international prices and rise in demand, a trade body said today.