Concern over RBI's reported move to take over temple gold

Amid reports that RBI wants gold belonging to temples to be sold, a CPI-M member today said in Rajya Sabha that the antique value of such assets should be calculated if any such move is there.

Raising the matter during Zero Hour, K N Balagopal said the Reserve Bank of India had reportedly sent a letter to temple boards in Kerala seeking gold reserves in state's temples.

He said RBI's move proves that the government has become a "pauper" and if they are planning to take over the gold, the antique value of the precious metals in the state's temples should be calculated.

When he raised the issue, M Venkaiah Naidu (BJP) said such a move was not acceptable.

On August 31, the RBI had said it was not contemplating any proposal to buy idle gold and convert it into bullion.

Referring to "some news stories in the media" about the RBI discussing/considering various options of converting idle gold, including that available with temple trusts, into bullion, the central bank clarified that "no such proposal is under its consideration at this juncture".

Demand for gold is the reason for rise in import of the precious metal. The rising gold import is one of the main reason for the Current Account Deficit (CAD), which widened to a record 4.8 per cent of GDP in 2012-13 fiscal.

P Rajeev (CPI-M) raised the issue of Syria and reported move of the US to attack the country.

He said Prime Minister Manmohan Singh, who is currently attending the G20 Summit in St Petersburg, should ask the US not attack Syria as the United Nations Security Council has not approved any resolution in this regard.

He said Iraq was also attacked but no chemical weapons were found.