New Delhi, June 3 -- Sources in the Finance Ministry on Wednesday denied media reports claiming that the Central bank sold gold worth USD 12 billion to shore up India's foreign exchange reserves.

A report by a news agency had claimed that the central bank had sold gold valued at around USD 12 billion over a two-week period ending May 22 in an effort to protect the country's foreign exchange reserves amid pressure on the rupee and a rising import bill. Finance Ministry sources told ANI that the such a report had been denied by the Central Bank.

Meanwhile, RBI's latest Annual Report for 2025-26 shows that the central bank's gold holdings actually increased during the financial year, contradicting claims of a large-scale sale of the precio...