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Central bank said in the half-yearly report - the share of gold in foreign exchange reserves increased to 7.81 percent

Pankaj Prasad
RBI gold reserves
RBI gold reserves

RBI's gold reserves increased by 34.22 tonnes to reach 794.64 tonnes on an annual basis at the end of March 2023.

RBI's gold reserves increased by 34.22 tonnes to reach 794.64 tonnes on an annual basis at the end of March 2023. This includes gold deposits of 56.32 tonnes. By the end of March last year, there was a gold reserve of 760.42 tonnes.

According to the half-yearly report released by the central bank, out of the total gold reserves, 437.22 tonnes of gold is kept safe abroad in Bank of England and Bank of International Settlements. 301.10 tonnes of gold is kept in the country. In terms of value, the share of gold in the total foreign exchange reserves increased to 7.81 per cent in March 2023 from 7.06 per cent in September 2022. During the half year, the foreign exchange reserves increased to $578.45 billion in March this year.

RBI imposes Rs 1.73 crore fine on HSBC

The Reserve Bank has imposed a penalty of Rs 1.73 crore on HSBC for non-compliance of regulations. The Reserve Bank had conducted a statutory inspection for supervisory assessment (LSE) of HSBC with reference to the financial position of the bank as on March 31, 2021. It found that the bank provided false credit information on several expired credit cards and all four credit information companies were shown as having zero balance.

More than 19 lakh investors of PACL got 920 crores

19.61 lakh investors of PACL have received Rs 920 crore back so far. These are the investors who have claimed up to Rs 17,000. SEBI said on Monday that PACL had raised 60,000 crores from investors for 18 years in the name of agriculture and real estate. For this, the committee formed under the leadership of retired Justice RM Lodha is completing the process of refund. The time to claim was given between February and March this year.