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of <h1>India Shifts Gold Sales: State Bank to Handle Market Sales, Discontinues Retail by Custom Houses.</h1> The Government of India has revised its policy for selling seized or confiscated gold, deciding to discontinue retail sales by Custom Houses. Instead, the State Bank of India will handle the sale as consignee agents. Gold will be delivered to major centers like Mumbai and New Delhi for open market sales. The gold must be in marketable forms, with pricing based on international and local market rates. The State Bank will manage sales logistics, taxes, and proceeds, with no commission but deductible expenses. Custom Houses are instructed to implement this procedure urgently.
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