Bharti Airtel has received financing commitments of up to $2.5 billion from top Chinese banks.
Just one year after taking office, Prime Minister Narendra Modi is facing a challenge that could come to haunt him.
Global gold prices held below $1,200 an ounce this week.
A downturn in Indian demand could hit global gold prices.
Prices of buffaloes and cattle have fallen by 20-30%.
It was unclear how bankers were deciding which jewellers to support
Rural slowdown may delay growth in the economy.
Based on the estimate, a courier bringing in 1 kg of gold currently worth around $40,000 at world prices could earn $470 if not caught.
The country has produced a record harvest, but many farmers in the onion bowl of Maharashtra have lost a large share of their crop damaged in storage, adding to the country's inflation woes.
Gold demand in India is expected to be robust in 2014, likely leading to a further jump in smuggling if curbs on bullion imports remain, the World Gold Council (WGC) said.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
Monsoon rains are vital for 55 per cent of the country's farmlands that lack irrigation facilities.
By tying gold imports directly to export volumes, India is effectively trying to cap how much bullion can be brought into the country, tightening supplies and driving up local prices.
The govt is increasing the duty to 15 per cent from the existing 10 per cent.
A govt report on Wednesday recommended reining in gold imports to curb deficit.
Prices have more than doubled in three months.
Though retail demand was weak, jewellers were restocking for Pongal festival.
It was trading around Rs 30,638 per 10 grams, the lowest since August 30.
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