Who has bought 575000 kg gold in India? Not Mukesh Ambani, Gautam Adani, Tata Group, name is..., reason is...
New Delhi: Gold is the metal that almost everyone on this planet will swear by. Gold has been used across centuries for different purposes. These include jewellery, cosmetic pastes, traditional herbal medicines, and a deposit for a rainy day.
In modern times, gold is also used as a scale to determine the stock markets and the economies of the countries.
We have told you about people who own vast amounts of gold in the form of jewellery, ornaments, or the mould they would like to store it.
Today, we will tell you who, in India, has bought tonnes of gold. Who has bought tonnes of gold in India, Mukesh Ambani or Gautam Adani?
When we talk about vast wealth, our mind goes to Mukesh Ambani and Gautam Adani, two of the wealthiest individuals in India. As we said in the introduction, we will tell you who has bought 575000 kg of gold in India. Is it Mukesh Ambani or Gautam Adani?
Well, it's neither. It is an institution that has bought such a vast quantity of gold, and that institution is the Reserve Bank of India (RBI). The RBI has added a record 57.5 tonnes of gold to its gold reserve in the financial year 2024-25. With this, the total gold reserve of the Reserve Bank has increased to 879.58 metric tonnes as of March 31, 2025. What does the RBI's Annual Report 2024-25 say?
According to the Reserve Bank of India (RBI) Annual Report 2024-25, its total gold reserve has increased by 7% to 879.58 metric tonnes as of March 31, 2025, whereas a year ago it was 822.10 tonnes.
Of this gold, 311.38 tonnes of gold was recorded as the assets of the issue department, slightly higher than 308.03 tonnes last year. The remaining 568.20 tonnes is recorded as the assets of the banking department, up from 514.07 tonnes in March 2024. Why does the RBI buy gold?
The Reserve Bank of India (RBI) buys gold every year. The reason for buying gold is to diversify its foreign exchange reserves and reduce the risks associated with currency fluctuations and economic instability.
Since gold is considered a safe asset, it protects against geopolitical risks such as inflation and war. Additionally, buying gold can increase the financial stability of the central bank and indicate its strong economic position.
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