The Reserve Bank of India's (RBI) physical gold holdings reached 822.10 tonnes as of 31 March 2024, marking an increase of 27.47 tonnes from the previous year's 794.63 tonnes.
Out of the 822.10 tonnes, 308.03 tonnes are held as backing for Notes Issued, up from 301.09 tonnes last year and are listed as assets of the RBI's Issue Department. The remaining 514.07 tonnes are held as assets of the Banking Department, compared to 493.54 tonnes last year. According to the RBI's 2023-24 annual report, 100.28 tonnes of the Banking Department's gold are reserved in India, with 413.79 tonnes held abroad.
The value of gold (including gold deposits) held as assets by the Banking Department saw a 19.06 per cent increase, rising from Rs 2.31 trillion last year to Rs 2.75 trillion by 31 March 2024. This increase is attributed to the addition of gold, higher gold prices and the depreciation of both the rupee and the dollar, as stated by the RBI.
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