Evidence of India’s growing economic strength, RBI filled 100 tonnes of foreign gold in the vault

News India Live, Digital Desk: Investment in Gold: A very big and proud news for the country has come out. The Reserve Bank of India (RBI), taking a historic step, has taken back its 100 metric tons (ie 1 lakh kg) in Britain to India. This is not just to bring back gold, but it is a big message of India’s growing economic strength.

There was also a period when gold was mortgaged…

To understand this news, we have to go a little back. In 1991, India was struggling with a major economic crisis. At that time the vault of the country was almost empty and we had to mortgage gold abroad to run our expenses. That was a very difficult period for India.

But today the picture has completely changed. Today, India’s economy is so strong that we are not only bringing back our gold, but are also continuously increasing our gold reserve.

Why did RBI take this big step?

There are many big and strategic reasons behind this:

1. Evidence of increasing economic strength: This decision shows how powerful and self -sufficient India has become financially. Now we have no compulsion to keep our gold abroad.

2. Your gold in your house: Amidst the ongoing political tension around the world, every country wants his property to be safe in his own vault. This is a big step in the same direction.

3. Dollar trust less: A trend is going on to reduce dependence on US dollar gradually all over the world. Many countries are now accumulating gold instead of dollars. This step of India is also part of this global change.

Where is this gold kept now?

This 100 tonnes of gold was first deposited in the Britain’s ‘Bank of England’. Now it has been brought to India and kept safe in RBI’s chests located in Mumbai and Nagpur.

Let us tell you that the Reserve Bank has more than 822 metric tonnes of gold, out of which more than half of which is now safe in India.

Overall, it is not just to bring back gold, but to convey the message to the world that India is now a strong, self -sufficient and a major economic power to decide on its terms.

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