Riddhi Siddhi launches contracts for gold exporters

NEW DELHI: Riddi Siddhi Bullions Ltd (RSBL)’s flagship product RSBL SPOT has launched a new segment that would facilitate the exporters and contribute to reduce the nation’s CAD (current account deficit ) pressure.

Under the new provision, new contracts will be added in to the RSBL SPOT system which will be quoted in dollar terms and settlement shall be done in Rupee terms. These clients will also be able to see the equivalent price Indian rupees (in view mode only).

RSBL will provide duty free gold for this.

Announcing the launch, Prithviraj Kothari, MD of RSBL: “ We are happy to introduce this facility which I am sure will help boost gold exports. To begin with, we will launch this product in Mumbai. We will also set up bonded warehouses pan-India.”

The terminal will be functional from 10.30 AM to 9 PM through the weekdays to track various markets across the world.

"RSBL looks forward to strengthen and support the government initiatives by launching a new segment that will facilitate gold export," Kothari said.