Indias top gold import bank suspends bullion dealers accounts
By GCRU Gold News on Monday, December 12 2016, 21:30 - Permalink
Axis Bank Ltd, India's top importer of gold, has suspended the bank accounts of some bullion dealers and jewellers after two of its executives at a branch were arrested over alleged money laundering.
There have also been reports of people rushing to buy gold by paying as much as a 50 percent premium above official prices using their unaccounted money to skirt the note ban.