Mumbai, Oct 29 || India’s gold reserves are increasingly being stored within the country as the Reserve Bank of India (RBI) continues to shift its holdings back home.
The move comes at a time when nations across the world are using financial sanctions and asset freezes as tools of geopolitical pressure.
According to official data, the RBI brought around 64 tonnes of gold to India during the first six months of the current financial year.
As of September-end, India’s total gold holdings stood at 880.8 tonnes, out of which 575.8 tonnes are now kept in domestic vaults.
The remaining 290.3 tonnes are held with the Bank of England and the Bank for International Settlements (BIS).