Indian The Reserve Bank (RBI) has increased domestically held gold reserves by 102 tonnes in the April-September period. This information was received from the data released on Tuesday. The central bank said the total amount of gold held in local vaults stood at 510.46 tonnes as of September 30, 2024. This quantity is more than the 408 tonnes of gold held till March 31, 2024. According to the half-yearly report released on the management of foreign exchange reserves, the Reserve Bank increased gold reserves by 32 tonnes in the first half of the current financial year. With this the total stock increased to 854.73 tonnes.
100 tons of gold returned from Britain
Over the past few years, India has been gradually shifting its gold reserves to local vaults. In the financial year 2023-24, it had transferred more than 100 tonnes of gold from Britain to domestic locations. This was one of the largest gold movements since 1991. India had to pledge a large part of its gold reserves to deal with the foreign exchange crisis in 1991. According to the RBI, 324.01 tonnes of gold was kept safe with the Bank of England and the Bank for International Settlements (BIS) and 20.26 tonnes of gold was kept as gold deposits. At the end of May itself, sources had indicated that a decision had been taken to reduce gold reserves abroad as per standard review procedures.
There is immense gold in the temples of India
There is three times more gold kept in the temples of India than the treasury of the American government. More than 4000 tonnes of gold is kept in temples like Padmanabha Swamy Temple, Tirupati Balaji Temple, Jagannath Temple, Vaishno Devi Temple. The World Gold Council has given this figure. Indians love gold so much that we have saved more than 25 thousand tonnes of gold.
Image Credit: India-Tv.