News News Archive Web No proposal to convert idle gold into bullion: RBI
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No proposal to convert idle gold into bullion: RBI
There have been media reports that the RBI is considering various options of converting idle gold.
The Reserve Bank of India RBI on Saturday said it is not contemplating any proposal to buy idle gold and convert it into bullion.
The RBI clarifies that no such proposal is under its consideration at this juncture, the apex bank said in a statement.
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There have been media reports that the RBI is considering various options of converting idle gold,including that available with temple trusts,into bullion. Bullion usually stands for gold in form of bars before coining.
