Reserve Bank of India (RBI) and the Centre are mulling over steps to check gold imports, which have seen a sharp surge in the recent months putting pressure on the current account deficit. Import of gold nearly quadrupled to $4.17 billion y-o-y in October to meet the festive season demand, in turn putting pressure on current account deficit.
“The surge in gold imports warrants a re-look. Discussions are on between RBI and the Centre,” RBI deputy governor SS Mundra told reporters at the India International Trade Fair, where RBI has put up a stall to spread awareness on financial literacy, financial inclusion and monetary policy.

Source - http://www.financialexpress.com