RBI Shifts 100 Tonnes of Gold from London to India _ Vantage with Palki Sharma

RBI Shifts 100 Tonnes of Gold from London to India | Vantage with Palki Sharma

India's central bank - the RBI - has shifted 100 tonnes of gold from the Bank of England in London to its vaults in India. This is the first time such a move has been made since 1991. Some of India's gold reserves have been stored at the Bank of England since independence, the rest was moved in the 1990s amid India's balance of payment crisis. London, being a key gold market, has been a popular destination for central banks around the country to store their gold reserves. But why did India decide to bring 100 tonnes of its reserves back home? Where will this gold be stored? What does it say about India's economic health? Palki Sharma tells you.

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India | Reserve Bank of India | Gold | UK | Bank of England | Firstpost | World News | Vantage | Palki Sharma
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