Nepal Rastra Bank (NRB) has increased the limit for gold imports to 20 kg from 15 kg per day following the demand from the gold entrepreneurs on Tuesday.
However, the Nepal Gold and Silver Dealers’ Association said the increased quota of the gold is still insufficient to meet the demand in the domestic market as the daily demand of the gold stands around 35 kg.
The gold traders have been demanding an increase in the import quota to least to 30 kg per day in view of growing demand.
The bullion traders also said that insufficient import and increase in the demand of the precious metal has also boosted illegal imports from India. nepalnews.com