RBI reasonably comfortable with India's current account deficit, says HR Khan

The Reserve Bank of India (RBI) is 'reasonably comfortable' with the country's current account deficit because of lower oil prices, deputy governor HR Khan said on Wednesday, after the government on Friday (November 28) unexpectedly eased some rules to curb gold imports.

"We are reasonably comfortable from the current account point of view because of oil," Khan told reporters on the sidelines of an event in Mumbai.

"So taking all that into account, a view has been taken that we'll give up this 80:20 (rule on gold imports)," Khan told reporters.

The government on Friday scrapped the 80:20 rule, which mandated traders to export 20 per cent of all gold imported into the country. The government will soon announce the current account deficit for the July-September quarter.