Fact Check: Did RBI Sell Rs. 1 Lakh Crore Worth of Gold? Check What PIB Said On Viral Bloomberg Claim

A claim that the Reserve Bank of India sold nearly USD 12 billion or Rs. 1 lac crore worth of gold has gone viral, raising major concerns in the market about the country's gold reserves. The report, published by Bloomberg, said that the central bank may have significantly reduced its gold holdings.

However, the government has now issued a clarification stating that the claim is false.

The Press Information Bureau's (PIB) Fact Check unit has dismissed the claim as "fake," citing official RBI data that shows the share of gold in India's foreign exchange reserves has actually increased in recent months rather than declined.

What Did the PIB Fact Check Say?

In a post shared on X, PIB Fact Check rejected the claim that the RBI sold gold worth approximately USD 12 billion.

"According to RBI, the share of gold in India's foreign exchange reserves rose from 13.92% at end-September 2025 to 16.70% on March 31, 2026, and further to 16.85% as of May 22, 2026," the fact-check unit said.

The data shows that gold now forms a larger portion of India's forex reserves than it did just a few months ago.

RBI Gold Reserves Continue to Grow

Dismissing the speculation, the RBI said its gold holdings is currently standing at 880.52 tonnes and that reports claiming the central bank had sold gold were incorrect.

At the end of September 2025, gold accounted for 13.92% of India's foreign exchange reserves. By March 2026, that figure had climbed to 16.70%, and it increased further to 16.85% by May 22, 2026.

The rising share of gold in India's reserves means that the central bank's exposure to the precious metal has only grown rather than weakened over time.

Gold reserves have a very important role in a country's finances and stability. All central banks worldwide, including the RBI, hold gold as a hedge against inflation, currency volatility, and geopolitical uncertainty.