Why is RBI Bringing Back Gold From The UK?

2024 • 3min • News • Business


Published On: May 31, 2024 - The Reserve Bank of India (RBI) has shifted back over 100 tonnes, or 1 lakh kilograms, of gold from the UK. This is nearly one-eighth of India’s gold stock as of March-end. This unprecedented move not only bolsters our national reserves but also helps the RBI save on hefty storage fees paid to the Bank of England. News9's Suyash Maheshwari decodes the details and explores what it means for India's economy.