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    Question

    In which foreign banks can the Reserve Bank of India (

    RBI ) keep its forex reserve gold? 1 ) Bank of England 2 ) Federal Reserve Bank of New York 3 ) Bank of International Settlements ( BIS ) 4 ) Banque de France
    A 1 and 2 Correct Answer Incorrect Answer
    B 2, 3 and 4 Correct Answer Incorrect Answer
    C 1 and 3 Correct Answer Incorrect Answer
    D All are correct Correct Answer Incorrect Answer
    E Only 3 Correct Answer Incorrect Answer

    Solution

    Explanation : The Reserve Bank of India ( RBI ) can keep its forex reserve gold in various foreign banks, but the prominent banks where it often stores its gold is the Bank of England and Bank of International Settlements ( BIS ). The Bank of England is known for its long - standing reputation as a custodian of gold reserves and has been a trusted institution for several central banks worldwide .

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