Courtesy: The Business Standard
Discrimination faced by Mumbaikars...
If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.
Wednesday, January 01, 2014
RBI allows refiners to import gold dore
Till now, gold dore import was banned and gold refineries were sources their input from scrap gold
Mumbai January 1, 2014: The Reserve Bank of India (RBI) has allowed gold refiners to import dore up to 15 per cent of their gross average viable quantity, based on their licence entitlement in the first two months, for making this available to exporters on a first-in first-out basis. The quantum of gold dore to be imported should be determined lot-wise, on the basis of export performance, RBI said.
Till now, dore import was banned and gold refineries were sourcing their input from scrap gold. Gold jewellery manufacturers have welcomed the move.
“It’s a welcome move by RBI, which will increase domestic refinery capacity and ease supply for domestic jewellers and exporters that are suffering because of short supply of gold. It will also reduce smuggling of gold into India,” said Pankaj Parekh, vice-chairman, Gems & Jewellery Export Promotion Council.
RBI has opened a new window for raw material import, but the central bank has mandated that up to 80 per cent of the import can be used domestically, before the next import. “The imports, thereafter, shall be allowed only up to five times the quantum for which proof of export has been submitted. This shall be on accrual basis,” RBI said.
The dore so imported should be released based on a first-in first-out basis, following the 20:80 principle, the banking regulator said.
RBI and the government had imposed several restrictions on gold consumption, including raising import duty, when the current account deficit (CAD) touched a record high of 4.8 per cent of GDP last year. At that time, RBI had mandated imports of the precious metal against suppliers’ or buyers’ credit would be on 100 per cent cash margin, and on a document against payment basis.
Following the measures, CAD for the second quarter of FY14 fell to 1.2 per cent; it is expected to be below three per cent in the current financial year.
Courtesy: The Business Standard