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Don’t believe the news of RBI sending 200 tonnes of gold abroad; here’s the truth

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Several pictures of newspaper cutouts are making rounds on social media which claim that the government has mortgaged 268 ton of gold.

Moreover, opposition Congress tweeted an article by National Harald whose headline read: “Did the Modi govt secretly transport 200 tonnes of RBI’s gold to Switzerland in 2014?”

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The report read:

“The Modi government secretly transported 200 tonnes of the Reserve Bank of India’s (RBI) gold reserve overseas immediately after coming to power in May 2014, a candidate fighting the Lok Sabha election from the South Delhi constituency has alleged.

An investigative journalist by profession, Navneet Chaturvedi reached his conclusion after filing an RTI seeking information on the existing gold reserves of the RBI last year and through the study of central bank’s annual reports. The scribe-turned-politician claims that the missing 200-tonne gold is the same which was bought by the Indian government from the International Monetary Fund (IMF) in 2009.”

The news was extensively shared on social media.

FACT CHECK

When NewsMobile came across the above claim, we found it to be FAKE.

On scanning through Reserve Bank of India’s (RBI) social media handles and website, we found a circular issued by RBI rubbishing above claims clarifying that no gold was transferred out of the country in 2014 or after.

“It is a normal practice for Central Banks world over, to keep their gold reserves overseas with Central Banks of other countries like the Bank of England for safe custody,” the press note read.

Hence, this proves that the above claims are FAKE.

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