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2025-10-29 14:19:18
[Reserve Bank of India Accelerates Gold Repatriation] 1. The Reserve Bank of India (RBI) currently holds over 65% of its gold reserves domestically, nearly double the proportion four years ago. India accelerated its gold repatriation process after Western countries froze their reserves due to Russia's military action in Ukraine. 2. The RBI stated in a semi-annual report on foreign exchange reserves on Tuesday that it repatriated nearly 64 tons of gold in the first six months of the fiscal year beginning in April. By value, gold accounted for 13.92% of total reserves at the end of September, up from 11.70% at the end of March. The RBI typically holds a portion of its gold reserves with the Bank of England and the Bank for International Settlements. 3. As of the end of September, the RBI held 880 tons of gold, of which 576 tons were domestic reserves, a record high. In September 2022, domestic gold holdings accounted for approximately 38% of the total. The RBI did not give a reason for this shift, but the move is likely aimed at strengthening control over the country's gold assets.
