3 June 2024
The Reserve Bank of India (RBI) has relocated over 100 tons of gold from the UK to its vaults in India, marking the first such move since 1991. This significant transfer is part of a plan that may see a similar quantity of gold brought to India in the coming months. Historically, more than half of RBI’s gold reserves were held overseas with the Bank of England and the Bank of International Settlements, but recent logistical efforts, involving extensive coordination with multiple government departments, have successfully returned a portion of these reserves to India.