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Transfer of gold reserves
June 4 , 2024
26 days
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- The Reserve Bank of India (RBI) has moved approximately 100 tonnes (1 lakh kilograms) of gold from the United Kingdom to its vaults in India.
- This is the first time since 1991 that India has undertaken such a large-scale transfer of gold reserves.
- More than half of the RBI’s gold reserves are held overseas in secure custody with the Bank of England and the Bank of International Settlements.
- Approximately one third is stored domestically.
- The central bank held 822.10 tonnes of gold as part of its foreign exchange reserves as of March 31, 2024.
- India will now hold most of its gold in its own vaults.
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