'Crackdown on black money has curbed gold demand'
Due to the crackdown on black money in India, many people who were looking at gold as an investment for unaccounted income are no longer investing in gold at all, Executive Vice-President of Kotak Mahindra Bank Shekhar Bhandari has said. India's gold demand has also been hit by higher returns from other asset classes like equities, Bhandari added.