No gold shifted outside India in 2014 or thereafter, says RBI refuting reports

Mumbai: The Reserve Bank of India (RBI) on Friday said no gold was shifted outside the country in 2014 or thereafter. The statement comes against the backdrop of reports in certain sections of the print and social media regarding the central bank shifting abroad a part of its gold holding in 2014. [caption id="attachment_4056577" align="alignleft" width="380"]

Representational image, Reuters.[/caption]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, according to the 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 cited above are factually incorrect," the statement said. The Congress party had tweeted a report regarding shifting of 200 tonne of the RBI's gold to Switzerland in 2014. "Did the Modi govt secretly transport 200 tonnes of RBI's gold to Switzerland in 2014?," the party had tweeted while tagging the report.