Negligence of the Reserve Bank of India, or is it criminal culpability? Reserve Bank of India logo In short, the Reserve Bank of India, must, at all time, have no less than 85% of its bullion reserves within India. In other words, it must not hold more than 15% of its reserves outside the country. This is as per the requirements of the Reserve Bank of India Act of 1934, Section 33(5). The Reserve Bank of India violated that law by holding more than 15% of its reserves with Bank of England (London) and Bank of International Settlement (Geneva). Source: RBI gets HC notice to explain gold deposits with Bank of England - Pune Mirror,Pune Mirror Reserve Bank of India Act of 1934 Here is a link to Reserve Bank of India Act of 1934: http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIAM_230609.pdf [HR][/HR] Does anyone have any idea whatever happened to that 265.49 tonnes of gold? Did they bring it back to India yet?