Published On:Tuesday, 23 July 2013

Bappi Lahiri to donate 50 tons of gold; to support RBI’s measures to reduce CAD

Great Indian musician and super market of gold, Bappi Lahiri decided to donate his 50 tons of gold to reduce the pressure gold imports in India. Lahiri also decided to stop importing any consignment of new gold to help India improve current account deficit (CAD). The development came after RBI set up measures to curtail gold imports which are putting pressure on India's financials in terms of burgeoning CAD.

In one of the most important measures, RBI Governor D. Subbarao personally visited Bappi Lahiri requesting him to support the measures taken by the central bank. According to sources, Bappi Lahiri immediately accepted Governor's request and asked his secretary to donate 50 tons of gold to poor Indians so that import thirst of gold would drop substantially. The great musician with great heart also told Subbarao that he would stop any gold imports for his personal consumption. Bappi Lahiri imports around 100 tons every year to convert them in his jewellery and ornaments.




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