The Reserve Bank Of India (RBI)'s total gold reserves were 612.56 tonnes in the previous fiscal year ending 2019. In starting of new fiscal year the RBI increased purchasing more and more stock of gold and the value of gold reserves rose to $ 30.57 Bn ( around Rs. 2,32,000 Cr ) by march 2020 from $ 23.07 Bn in march 2019.
The RBI Bought 40.45 tonnes of gold in FY 2019-20 taking its total holding of the gold to 653.01 tonnes from 612.56 tones. In terms of US $ value of the shares of gold in total foreign exchange reserve rose from 5.59% as of march 2019 to about 6.40% by March 2020.
According to the World Gold Council WGC, the central banks of various countries in the world such as UAE (7 tonnes), India (6.8 tonnes), Kazakhstan (2.8 tonnes) Etc. increased their official gold reserves in Jan-Mar Period. While many Central Bank such as Reserve Bank Of India (RBI) have focused on the measure needed to contain the economic impact of covid-19 and by these positive net purchase of yellow metal (gold) the RBI & other central banks confirms that it remain an important component of those reserves.
So this is the matter of great pride that we are in the list of Countries having highest gold reserves in the world and we are at 9th place with around 653.01 tonnes gold. (Source)
