RBI brought 100 tons of gold from England to the country and decided to bring more gold

By: 600011 On: May 31, 2024, 1:55 PM


New Delhi: The Reserve Bank of India brought the gold stored in Britain to India. Reserve Bank of India brought 100 tonnes of gold stored in the Bank of England to India. This is the first such action since 1991. The RBI also said that a similar amount of gold may be brought back into the country in the coming months. According to the latest figures, the RBI held 822.1 tonnes of gold at the end of March. Of that, 413.8 tons were stored abroad. In the last financial year, 27.5 tonnes of gold was included in the deposit.

Most central banks traditionally store gold at the Bank of England. As the stock of gold bought by the RBI is increasing abroad, it has decided to send some of it to India. 15 years ago, RBI bought 200 tonnes of gold from the International Monetary Fund. Over the last few years, there has been an increase in gold investment.