RBI rubs off reports of shifting gold holding to other countries in 2014

The Reserve Bank of India (RBI) on Friday denied media reports that it had shifted part of gold holding in 2014 to other countries.

In a statement issued on Friday the RBI said, "It is a normal practice for Central Banks world over, to keep gold reserves overseas with Central Banks of other countries for safe custody. No gold was shifted by RBI from India to countries in 2014 or thereafter."