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.

Written by Press Trust Of India
Mumbai | September 1, 2013 12:47 AM IST

1 min read

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.

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.

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apex bank bullion RBI Reserve Bank of India

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