Historic economic turnaround for India: RBI shifts 100 tonnes of gold from UK to India

In an economic turnaround, India shipped in a little over 100 tonnes of its gold reserves held in the UK. During economic liberalisation of 1991, India shipped out gold and pledged it overseas to avert a looming financial crisis. Most countries keep their gold in the vaults of the Bank of England or some such location and pay a fee for the privileges.
By March 1991, against the country's foreign debt of about USD 72 billion, its forex reserves had dropped to USD 5.8 billion. By March 1991, against the country's foreign debt of about USD 72 billion, its forex reserves had dropped to USD 5.8 billion. State Bank of India in January 1991, decided to raise forex by leasing some gold to the United Kingdom. Former Chief Economy Advisor Sanjeev Sanyal lauded India’s move to bring back gold. Taking to ‘X’, he wrote that India will now hold most of its gold in its vaults

#RBI #Gold #EconomicGrowth

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[aryaahpatel]

India finally becoming capable enough to bring back its pledged Hats off to the BJP government!! 👏
Bharat...on its way to reclaim its title....ek sone ki chidiya! 👑

[hindurastrabhagwamaybharat]

Hardwork beats Harvard, tq Pm modi❤❤🙌🏻🙌🏻🙌🏻

[KrishnaVasudevGokul]

In 1991 only 40 ton gold was pledged, which was repurchased in a year, then how 100 ton gold coming back….😂

It’s India’s gold which was kept in the vaults of Bank of england…..and now that gold which was kept in Bank of england that is coming back…..its like that “what we have kept in locker and now taking back”….simple…

[VrkPeru-nwuv]

Bharat should offer Global South countries an option to vault all their Gold from New York, London and Switzerland. You saw what happened to Russia’s $400 billion dollars…American government confiscated because Russia went against them. De-colonization is the anti-dote for Colonial hangover.

[Papasango]

Meanwhile dhruv rathee
"Kya RBI ko gold ki jrurat hai dosto"😂😂😂

[ysr]

We should bring back all our gold and should be stored in Indian vault's

[velugoti-lmpu]

India did not ship out gold in 1991
It went out via 3 cargo planes

[amrendrakumar]

Congress ne india ke gold ko uk bheja humare pm ne gold laye

[malinis]

Amazing.. brilliant move .. one who economics they will understand this.

[sydgvkx]

SAB SE AAGEY HONGE HINDUSTANI YEH BAAT HAI SAB NE MAANI

[sydgvkx]

PRAYERS 🙏 BY RAVINDER TALWAR JALANDHAR CITY PUNJAB INDIA 🍀

[hindurastrabhagwamaybharat]

After seeing this self claimed super economist, darbari, Pappu fan raghuram crying 😭😭😂😂😂😂

[hasiburrahaman]

Ye modi kharid ke rakkha tha kya???😆😆😆

[vikramnanda]

Where is employment for us
Inly Ambani and adani uas money

[mayank]

Mumbai’s multi-crore undersea Coastal Road tunnel leaks 2 months after inauguration: What’s going on?

[santjaiswal]

We sanatani hindu r proud on our national leader Shri Narendra Modi g 🙏
Jai Shree Sita Ram ji 🙏