RBI shifts 100 tonnes of gold from vaults in UK to India

The Reserve Bank of India (RBI) has shifted around 100 tonnes of its gold kept in bank vaults in the UK to its own vaults in India in a move aimed at saving storage costs, according to media reports.

This is the first time since 1991 that India has



undertaken such a large-scale overseas transfer of gold reserves.

Economist Sanjeev Sanyal, a member of the PM’s Economic Advisory Council, said, “While no one was watching, RBI has shifted 100 tonnes of its gold reserves back to India from the UK.”