RBI Shifted 100 tonnes Gold Back to India from UK

On 31st May, 2024, the Reserve Bank of India (RBI) has moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24.

Key Points

As of 31^st March 2024, the total gold held by the RBI was 822.10 metric tonnes as compared to 794.63 metric tonnes on 31^st March 2023.
Of the total 822.1 tonnes of gold that central bank had in March 2024 end, 413.8 tonnes was overseas.
More than half of the RBI's gold reserves are kept overseas in safe custody with the Bank of England and the Bank of International Settlements, while about a third is stored domestically.
Repatriating the gold will help the RBI save on storage costs paid to the Bank of England.
Gold in India is typically held in vaults in RBI’s old office building on Mumbai’s Mint Road as well as Nagpur.