RBI brings back 100 tonne of its Gold reserve back from abroad - Finance Ppl

**************************************** Calender container- CSS BEGINS *******************************************/ **************************************** Email Subscription- CSS BEGINS *******************************************/ #mc_embed_signup{ .widget iframe, .widget img { max-width: 100%; } #mc_embed_signup{ img { max-width: 100%; vertical-align: middle; border: 0; } #magazine-left { width: 45%; float: left; } #magazine-right { width: 45%; float: right; } **************************************** Slider Img- CSS BEGINS *******************************************/ **************************************** Scroll- CSS BEGINS *******************************************/ --> /**************************************** HOW NO SIDEBARS-in POST PAGES- CSS BEGINS *******************************************/ /**************************************** SHOW NO SIDEBARS-in CONTACT PAGE- CSS BEGINS *******************************************/ /**************************************** SHOW NO SIDEBARS-in CONTACT PAGE- CSS BEGINS *******************************************/ /***************************************************** SHOW NO HEADING/TITLE in PROFILE Menu PAGES- CSS BEGINS *****************************************************/ /*************************************************** SERVICES PAGE -CSS BEGINS *****************************************************/ /******************************************** SERVICES PAGE- INFO BOX SECTION- CSS BEGINS ********************************************/ /******************************************** PROFILE PAGE- PADDING - CSS STARTS ****************************************/ /**************************************** SHOW NO SIDEBARS-in INTERVIEW HELPER- CSS BEGINS *******************************************/ / **************************************** RESOURCES- CSS BEGINS *******************************************/ /*-------TYPOGRAPHY AND SHORTCODES BEGINS--------*/ /*------TYPOGRAPHY AND SHORT CODES ENDS------*/ /******************************************** TEMPLATE SKIN BEGINS ****************************************/ /******************************************** TEMPLATE SKIN ENDS ***************************************************/ /*=============================GOOGLE ANALYTICS JAVA SCRIPT BEGINS==================================*/ //]]> /*=============================GOOGLE ANALYTICS JAVA SCRIPT ENDS==================================*/ /*************************************** HEAD OF THE TEMPLATE BEGINS ******************************************/

On May 31, 2024, TOI reported the news about RBI bringing back 100 tonnes (1 lakh kilograms) of gold from UK bank vaults to its Indian domestic vaults. Post 1991 economic crisis, this is the first large-scale gold transfer that’s being done by India

As per RBI annual report, RBI’s gold reserves as of 31.03.2024 was 822.1 tonnes out of which,
a) Held in India were: 408.31 tonnes (308.03 tonnes as backing for Notes Issued and balance 100.28 tones held as asset of Banking Department)
b) Held Abroad were:  413.79 tonnes were held abroad as asset of Banking Department


Subsequently, in month of June 2024, RBI Governor in an Interview to TOI said " In recent years, Reserve Bank is buying gold as a part of its reserves and the hence quantum was going up. We have domestic (storage) capacity and it was decided to move part of the reserve outside India to be stored within the country. That's it. Nothing more should be read into it".