RBI Brings Back 100 Tonnes Of Gold From England, Invokes Memories Of 1991

#tonnesofindiangold #aatmanirbharbharat #rbibringbackgold #indiauk #gharvapasi
The Reserve Bank of India (RBI) has shifted over 100 tonnes of gold from the UK to its vaults in the country. A similar amount of the yellow metal may again be brought into the country in the coming months, sources told Business Today. This is the first time since 1991 that the precious metal has been added to the stock kept in the country. The RBI held 827.69 tonnes worth of gold as a part of its foreign exchange reserves as of April 26, 2024, up from 803.6 tonnes as of December end according to the latest data. More than half of RBI’s gold reserves are held overseas in safe custody with the Bank of England and the Bank of International Settlements, and about a third of it is stored domestically. The move will also help RBI save storage costs, which are paid to the Bank of England.

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