RBI says no gold shifted out of India in 2014 or after

TIL Desk/Business/New Delhi/ The Reserve Bank of India (RBI) on Friday said no gold was shifted outside the country in 2014 or thereafter while stating it is a normal practice for Central banks world over to keep their gold reserves overseas with Central banks of other countries such as Bank of England for safe custody.

The statement comes amidst reports that the central bank shifted abroad a part of its gold holding in 2014. It is a normal practice for central banks world over to keep their gold reserves overseas with central banks of other countries like Bank of England for safe custody,” said the RBI statement.

“It is further stated that no gold was shifted by the RBI from India to other countries in 2014 or thereafter. Thus the media reports are factually incorrect,” the statement said. The Congress had tweeted a report regarding shifting of 200 ton of the RBI’s gold to Switzerland in 2014.