Mumbai The Reserve Bank of India i.e. RBI is taking a big step on India’s gold kept abroad. This step of RBI on gold will surprise you. Actually, a lot of Indian gold is kept abroad, but now RBI is continuously bringing this gold back to India. According to the English newspaper Times of India, RBI has now brought back 102 tonnes of Indian gold deposited in the vault of the Bank of England in Britain. Now, out of the gold stock held by the Reserve Bank, 510.5 tonnes is in the country itself. RBI had 855 tonnes of gold till September 2024. From September 2022 onwards, RBI is continuously bringing back its gold stored abroad. In September 2022, RBI had brought 214 tonnes of gold deposited abroad. Now 324 tonnes of gold of the Reserve Bank is deposited in the Bank of England and the Bank of Settlement in London. Apart from this, RBI has 20 tonnes of gold as gold deposit. Let us tell you that in the 1990s, India’s economic condition became so bad that it even had to mortgage its gold.
According to newspaper reports, the gold was brought secretly from the Bank of England. Special aircraft were arranged for this. According to the newspaper, RBI has also increased the holding of gold. 9.3 percent of India’s foreign exchange reserves is gold. Earlier in March it was 8.1 percent. It is believed that in the coming time, RBI will also bring the remaining gold to the country. The reason for this is the ongoing tension and war in many parts of the world. RBI’s bringing back gold from abroad indicates that the Indian government is working to protect its gold reserves from any danger.
Not only India, other countries of the world keep their gold abroad. The concerned banks also charge for this. The biggest risk in this is that if there is tension on any issue, the gold of the concerned country is also confiscated. This has happened to Russia when it started war against Ukraine. Following the imposition of sanctions against Russia, its gold deposited in foreign banks has also been confiscated. By doing this an attempt was made to create economic problems for Russia. However, Russia has saved its financial condition from deteriorating by selling crude oil cheaply to many countries including India.
