The Reserve Bank of India has said that it plans to issue sovereign gold bonds regularly, as the investors’ interest has been low. The RBI also indicated that as part of strategy to diversification of forex reserves, it may add more gold in the foreign currency reserves in 2018-19.
The RBI had started adding gold to its foreign currency reserves in smaller amount. The central bank said in its annual report, in the agenda for 2018-19, RBI also indicated that ore gold will be added to reserves.
It said, “Diversification of India’s Foreign Currency Assets continued during the year with attention being ascribed to risk management, including cyber security risk. The gold portfolio has also been activated.”