NEW DELHI: Chandra Shekhar ruled out further pledging of gold abroad and said instead outer avenues to get assistance to improve the foreign exchange reserve were being tried.
Strongly defending the move by the Reserve Bank of India to pledge 20 tonnes of confiscated gold the prime minister said the government did not commit ‘a crime’ through this measure. It had helped in improving the balance of payment position and the reserves to meet exigencies he said.
In an exclusive interview to PTI here the prime minister said that the decision to pledge the confiscated gold from smugglers was taken by the Reserve Bank of India with my consent
Article extracted from this publication >> June 21, 1991
