SPMCIL delivers 3.4 metric tonnes of refined gold to RBI in FY25: FM

In a significant development, the Security Printing and Minting Corporation of India Limited (SPMCIL) delivered 3.4 metric tonnes of refined gold to the Reserve Bank of India (RBI) in the fiscal year 2025, as confirmed by Finance Minister Nirmala Sitharaman. This delivery underscores the strategic role of SPMCIL in managing India's precious metal reserves, aligning with the government's broader economic objectives. The transaction reflects a robust collaboration between SPMCIL and RBI, ensuring the nation's gold reserves are efficiently managed. Finance Minister Sitharaman highlighted that SPMCIL is not only limited to refining gold but also extends its expertise to refining silver. The corporation receives raw materials from various sources, which are then meticulously processed to meet the high standards required for national reserves. This dual refining capability enhances India’s ability to maintain a diversified portfolio of precious metals, supporting financial stability and providing a buffer against economic uncertainties. The delivery of refined gold to the RBI is a testament to SPMCIL's operational efficiency and commitment to quality. This move is expected to bolster confidence in India's economic resilience, as the country continues to navigate the complexities of the global market. By strengthening its gold reserves, India is better positioned to leverage these assets in times of financial volatility, reinforcing the nation's fiscal health and strategic economic interests.

— Authored by Next24 Live