The Reserve Bank of India has bought gold for the first time in nearly uline{1cm} years in the financial year 2017-18.

2018

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Reserve Bank of India has bought gold for the first time in nearly _________ years in the financial year 2017-18.

A	9 years
B	8 years
C	7 years
D	6 years

Explanation:

Detailed explanation-1: -The Reserve Bank of India (RBI) has bought 8.46 tonne of gold in financial year 2017-18, the first purchase of yellow metal by the apex bank in almost nine years, a report said.

Detailed explanation-2: -Gold Reserves in India averaged 494.79 Tonnes from 2000 until 2022, reaching an all time high of 785.35 Tonnes in the third quarter of 2022 and a record low of 357.75 Tonnes in the second quarter of 2001.

Detailed explanation-3: -The accounting year for the Reserve Bank of India was changed to April-March (earlier July-June) from the financial year 2020-21 onwards. Where available, this chapter has been updated beyond March 2022.

Detailed explanation-4: -In 2021, the RBI emerged as the second largest buyer of gold in the world second only to the Central Bank of Thailand which bought 90 metric tonnes of gold. RBI purchased 77.5 metric tonnes in 2021.

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