Context:
The Reserve Bank of India’s (RBI) gold reserves touched 794.64 metric tonnes in fiscal 2023, an increase of nearly 5 per cent over fiscal 2022.
Few Facts Related to Gold Reserves:
| Gold Reserve | Amount |
| Total Gold Reserve (as of March 2023) | 794.64 tonnes |
| Gold deposits | 56.32 tonnes |
| Gold held overseas (with Bank of England and Bank of International Setllement) | 437.22 tonnes |
| Gold held domestically | 301.10 tonnes |
| Country’s total foreign exchange reserve (as of March 2023) | $578.449 billion, |
| Gold Reserve Value (as of March 2023) | $45.2 billion |
| Share of Gold in Total Forex Reserves | 7% (March 2022) to 7.81% (March 2023) |
Reasons behind increasing gold reserves:
News Source: Indian Express
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May 10, 2023