May 15, 2023
The RBI has invested heavily in gold to counter the challenges posed by rising inflation and the possibility of a global recession. In the financial year 2022-23, RBI purchased 34.22 tonnes of gold. Therefore, India's total gold reserves have increased to 794.64 tonnes. The country's gold reserves have increased by around 5% during the year. The share of gold in India's total foreign exchange reserves rose to 7.81 percent in March 2023.