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RBI has recently formed a committee to study why Indians spend so much on Gold? What is the reason behind their appetite for this yellow metal? The panel will take into the considerations all the facts and figure and also benchmark India’s position vis-a-vis both the peer and advanced countries, it said in a statement on Thursday.
The panel headed by Tarun Ramadorai, Professor of Financial Economics, University of Oxford will have embodiments from Sebi, financial sector regulators Irdai, PFRDA apart from RBI.
The committee will evaluate why, how and since when Indians have developed such a great affection with this metal.
The committee will be deliberated to go as deep as possible to find out the root cause for Indians household behaviors and their affection with the gold.
It is expected that the committee will likely to submit their reports by the end of July 2017.