“In 1991, Chandra Shekhar government pledged about 1 lakh kg of gold to foreign banks. Recently, the Modi-led BJP government brought this gold back to India.”
What FACTLY found
During the foreign exchange crisis of 1990-91, India secured a loan of $405 million from the Bank of England and the Bank of Japan by pledging 46.91 tonnes of its gold reserves. However, it repaid the loan between September and November 1991. Despite repaying the loan, the RBI kept the gold in England. The RBI has been buying and storing gold abroad for many years, both before and after 2014. According to the Reserve Bank of India (RBI) 2023-24 annual report, as of 31 March 2024, the RBI hold...
Their words, from the summary they publish with the rating.
In short
This claim spread on social media around 2 June 2024. FACTLY (India) looked into it and published its finding on 5 June 2024, 3 days later. Its rating was “MISLEADING”.
Where the claim appeared
Links recorded by FACTLY. Some posts may have been deleted since.
This check was done by FACTLY, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.