RBI shifts 100 tonnes of gold from vaults in UK to India
New Delhi: The Reserve Bank of India (RBI) has shifted around 100 tonnes of its gold kept in bank vaults in the UK to its own vaults in India in a move
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New Delhi: The Reserve Bank of India (RBI) has shifted around 100 tonnes of its gold kept in bank vaults in the UK to its own vaults in India in a move
The government in 1991 pledged 46.91 tonnes of gold with the Bank of England and the Bank of Japan to raise 4 million dollars between July 4 and 19.
According to Business Today, which cited sources, the Reserve Bank of India (RBI) has transferred almost 100 tonnes (1 lakh kilos) of gold from the United Kingdom to its vaults in India.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
Mumbai/IBNS: The Reserve Bank of India (RBI) has moved over 100 tonnes of gold from the UK to its vaults in India, reports said.