Gold Clampdown Leads To Smuggling: Bhaskar Bhat
  • Elizabeth George
  • Sep 17 2013

September 17: Bhaskar Bhat, Managing Director at Titan, says the RBI clampdown on gold has made it difficult on the procurement side. We understand the reasoning but the unavailability of gold has only led to rampant smuggling, he says, adding that gold demand won’t go away by stopping supply. The gold-on-lease system should be brought back for credible parties with minimal restrictions, he adds.