There have been some news stories in the media in the last couple of days about the Reserve Bank of India discussing/considering various options of converting idle gold, including that available with temple trusts, into bullion.

The Reserve Bank clarifies that no such proposal is under its consideration at this juncture.

Alpana Killawala

Principal Chief General Manager

Idle gold conversion: no proposal to convert idle gold into bullion currently under consideration, clarified. No proposal to convert idle gold into bullion is under consideration; proposals to convert idle gold holdings, including those held by temple trusts, into bullion are not being pursued at this time. This statement functions as a regulatory clarification addressing public speculation and confirms that current policy deliberations exclude converting temple or other idle gold stocks into bullion.