India Clarifies Gold and Silver Import Confusion Before Festival

The Indian government has issued a notification on gold and silver imports, after confusion over policy had held up the precious metals at customs, just days before a Hindu festival when buying bullion is considered auspicious.

The government listed banks that are authorized to bring in bullion in the release on Friday. The notice resolved the import problems, according to Surendra Mehta, national secretary at the India Bullion and Jewellers Association.