The Reserve Bank has been on a localization spree in recent years when it comes to storing 854.7 tonnes of its gold assets/reserves. Of the total, 510.5 tonnes are now stored in the different vaults of the central bank, mostly in the Mumbai vaults.
It has also been on a gold-buying spree since between April 2022 and September 2024; it has added close to 100 tonnes to the reserves.
In just two years ending September 2024, the RBI has quietly brought back 214 tonnes of gold. In FY23, the monetary authority had brought in only 5.3 tonnes back to the country, taking the domestic storage to 301.1 tonnes. In FY24, the number went up by 106.8 tonnes, taking the local storage to 408.3 tonnes. In the first six months of the current financial year, the central bank brought back 102.2 tonnes, taking the total to 510.5 tonnes.
Of the rest of the reserves, 314 tonnes are with the safe vaults of the Bank of England, 10 tonnes are with the Bank for International Settlement in Basel, Switzerland, and the Federal Reserve Bank of New York, and the remaining 20.3 tonnes are in gold deposits, according to the latest data released by the central bank late October.
Putting the 1991 clock back
Esta historia es de la edición November 10, 2024 de The Morning Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición November 10, 2024 de The Morning Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Service to people is real worship of Mother India: RSS
RSS chief Mohan Bhagwat on Sunday said that worshipping \"Mother India\" is equal to serving people and protecting environment and biodiversity.
South Koreans protest in snow as Yoon arrest deadline nears
THOUSANDS of South Koreans braved a snowstorm Sunday to rally in support or opposition of President Yoon Suk Yeol, suspended over a failed martial law bid and resisting arrest a day before the warrant expires.
LEARNING ON THE ROAD
Delhi's Somit Makar is on an ambitious 10,000-plus km solo road journey championing the cause of road safety. TMS catches up with the entrepreneur and adventure enthusiast on trip highlights, his mission and invaluable lessons from his travels.
For The Crowning Glory
BACK TO NATURE
Deva teaser: Shahid Kapoor looks feverishly ferocious
The teaser of Shahid Kapoor-headliner Deva was released by the makers on Friday.
Delhi ended 2024 on a high note...
DELHIITES did end their 2024 on a high note. The city danced on every beat with the performance of musical prodigy Dhvani Bhanushali at The Leela Ambience Convention Hotel recently.
MORE QUESTIONS THAN ANSWERS
GAUTAM Gambhir was sitting at the press conference room of the Sydney Cricket Ground.
Pat on the back for Cummins and Co
VIRAT Kohli is pumped up. He runs in from first slip, hands aloft towards Mohammed Siraj. The pacer had just removed Usman Khawaja with a little over 50 runs to defend. After a frustrating half day on the field, it was the chance India needed. It was the moment of hope they wanted to keep fighting.
Award Motivates Players Even More, Says Sanjay
AT 23, Sanjay was the youngest member of the Indian hockey team that won the bronze medal at the Paris Olympics.
Hard-fought win for nine-man Kerala in ISL
KERALA Blasters earned a hard-fought 1-0 away victory over Punjab FC in the Indian Super League in New Delhi on Sunday.
