‘Did Not Shift Any Gold Abroad Since 2014’: RBI Refutes Congress Claim Of Modi Govt Moving Reserves To SwitzerlandRepresentative image. (Pixabay/Stevebidmead)

The Reserve Bank of India (RBI) on Friday (3 May 2019) rubbished media reports and the Congress party’s claim that it had moved large amounts of gold outside the country after 2014, reports The Economic Times.

A tweet on the party’s official Twitter handle read, "Did the Modi govt secretly transport 200 tonnes of RBI's gold to Switzerland in 2014?"

Along with the tweet, the party attached a media report to back up its claim.

Rejecting the report and the incorrect tweet, the RBI came out with a statement clarifying that it had not moved any part of its gold holdings outside the country in 2014 or thereafter.

"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.

Additionally, the statement also highlighted the fact that it is a normal practice for central banks world over to keep their gold reserves overseas with central banks of other countries like the Bank of England for safe custody.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement