RBI's gold reserves cross ₹8.8 lakh crore for the 1st time
Reserve Bank of India's (RBI) gold reserves have crossed $100 billion (approximately ₹8.8 lakh crore) for the first time, Reuters reported, citing the central bank's data. This comes amid the global price rally of gold despite RBI's slowed gold purchases this year. According to traders, gold now accounts for 14.7% of India's total reserves, which is the highest since 1996-97.