New Delhi: India has taken a big step. India has brought back the gold tied up in Britain. RBI has brought back more than 100 tons of gold from UK. All this gold was already in the Britain treasury.
In order to keep the gold safe, the Britain Bank of England was charging a lot of fees from India. Now India will get rid of that cost. This amount of gold has never been brought to India since 1991. RBI will bring more gold back to India in the coming months.
100 tons of gold has been brought back from England and kept in the treasury of India. This decision is beneficial for India. India will bring back such a large amount of gold in the next few days. Such a decision has been taken by the Central Bank to increase the amount of gold in the treasury of the country. It will be useful in maintaining financial stability in the future
According to an official source, RBI had 822.1 tons of gold at the end of 31 March 2024. Out of that 413.8 tons of gold is abroad. Of the gold purchased by the RBI in recent years, 27.5 tons of gold has been included in the gold reserves in the last financial year alone.
In 1991, during the Chandrashekhar government, gold was pledged to maintain financial balance. Between July 4 and 18, 1991, the RBI pledged 46.91 tons of gold and secured 400 million rupees from the Bank of England and the Bank of Japan. The second gold reserve in the world is the Bank of England.Many countries keep their gold in this gold reserve. For this they also have to pay the Central Bank of Great Britain. India is also paying this fee.
