In India RBI's gold holdings rose to a record high of 822.1 tons by the start of April representing an 18.5 tons net acquisition since the beginning of the year.
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While the fixed deposits (FDs) have given a return of around 7 per cent in the last year and gold returns have also surged to 17 per cent in FY24
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While the RBI’s unforgiving action spotlights the regulatory body's resolve to enforce strict financial discipline, the heart of the controversy lies not in the RBI's right to enforce but in the selectivity and severity of its enforcement on just one large player, writes Dilip Cherian
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