Reliance Capital becomes first company to suspend gold sales

Amid growing concerns over huge gold imports hurting the country's economic strength, financial services major Reliance Capital became the first company to suspend gold sales across all its businesses on 21st June. The decision includes suspension of sale of gold coins and other physical forms of the yellow metal, as also as an investment product across all its businesses and subsidiaries, Reliance Capital said. Part of Anil Ambani-led Reliance Group, the company said the decision has been taken in view of the government's "publicly stated objective of minimizing gold imports that are seriously hurting the country's economic interests".