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RAPAPORT… India’s ban on high-value cash transactions could damage
rural gold demand or spur growth in the black market, the World Gold Council
(WGC) warned.

From April 1, the government will cap cash purchases at $4,493
(INR 300,000) as it continues its attempts to transform the nation’s economy into
one based more on electronic transactions.

“This will have the greatest impact i…

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