Well do you what has really caused the Rupee fall and the current ecnomic crisis in India ?. It is nothing but the gold hoarded in Indian homes instead of RBI vaults . Analysts say that it was the unsual gold rush by Indians in 2012and 2013 that ruined the Indian economy and the confidence of foreign investors .
While the RBI has only 700 tonnes of Gold as reserve against its debts , the indian community has stacked a massive 30,000 tonnes of gold in jewelry and blocks that has led to stagnation of foreign capital flow , export value and import of fuel etc at huge cost leading to pressure on Rupee and rising Dollar.
'If the patriotic indians can donate atleast 2 percent oftheir gold for the country the situation can be reserved ' says the former RBI cheif Duvvuri Subba Rao.
While the RBI has only 700 tonnes of Gold as reserve against its debts , the indian community has stacked a massive 30,000 tonnes of gold in jewelry and blocks that has led to stagnation of foreign capital flow , export value and import of fuel etc at huge cost leading to pressure on Rupee and rising Dollar.
'If the patriotic indians can donate atleast 2 percent oftheir gold for the country the situation can be reserved ' says the former RBI cheif Duvvuri Subba Rao.
