RBI not to convert idle gold into Bullion-RBI clarifies
There has been news spreading that RBI is going to convert gold into bullion to support Rupee from its falling. RBI by a recent press release denied such news which reads as follows;
“There have been some news stories in the media in the last couple of days about the Reserve Bank of India discussing/considering various options of converting idle gold, including that available with temple trusts, into bullion.
The Reserve Bank clarifies that no such proposal is under its consideration at this juncture.”