October 13, 2011

India's Gold

In 1991, India had to pledge all its 60-plus tonne gold reserves with Bank of England to bail out a payment crisis. In 2011, justt Mannepuram Finance has created an outstanding gold loan book equivalent to 61 tonnes of gold. Looks like Indians are pulling gold out of their closets finally. Its also good for the country to monetise its "hidden" gold reserves.


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