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    Question

    To check the widening Current Account Deficit in 2013, RBI introduced 80:20 scheme for restriction on import of which commodity? 

    A Crude Oil Correct Answer Incorrect Answer
    B Gold Correct Answer Incorrect Answer
    C Platinum Correct Answer Incorrect Answer
    D Unpolished diamonds Correct Answer Incorrect Answer
    E All of the above Correct Answer Incorrect Answer

    Solution

    RBI withdrew the gold import restrictions popularly known as the “80:20” scheme in November 2014. Introduced in August 2013 the rule enjoined all gold importers to supply at least 20 per cent of the quantity brought in to jewellery exporters. Permission for subsequent import would be given only on fulfilment of this export obligation. 

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