The government refuted claims that the Reserve Bank of India (RBI) had sold gold valued at approximately $12 billion, labeling the reports as false. The Press Information Bureau (PIB) Fact Check unit discredited assertions of a significant gold reserve offload by the RBI, citing official data from the central bank. According to the PIB, India’s gold share in foreign exchange reserves increased from 13.92% in September 2025 to 16.70% by March 31, 2026, and further to 16.85% as of May 22, 2026.
The PIB clarified following allegations that the RBI might have divested gold worth close to $12 billion. It emphasized that the RBI routinely discloses its physical gold holdings through its Monthly Bulletin and affirmed that the status of the central bank’s gold reserves remains unaltered. Data released by the RBI on May 22 indicated a continuous rise in the gold share within overall foreign exchange reserves, contradicting suggestions of a large-scale sell-off. India’s physical gold reserves were reported at about 880 metric tonnes as of April 24, 2026, showing minimal change from previous disclosures.
RBI data revealed a notable surge in the value of gold reserves over the past year, climbing from $81.82 billion in early May 2025 to approximately $120.24 billion by late April 2026. The proportion of gold in India’s total foreign exchange reserves also saw a steady increase during this period, reflecting both valuation gains and shifts in reserve composition. As per the latest RBI figures, India’s total foreign exchange reserves amounted to roughly $698.49 billion as of April 24. PIB encouraged the public to rely on official RBI channels for accurate information on the country’s reserves and monetary data.
