India's temples guard their gold from Government
India's temples are resisting divulging their gold holdings - perhaps nearly half the amount held in Fort Knox - amid mistrust of the motives of authorities who are trying to cut a hefty import bill that is hurting the economy.
The Reserve Bank of India (RBI), which has already taken steps that have slowed to a trickle the incoming supplies that have exacerbated India's current account deficit, has sent letters to some of the country's richest temples asking for details of their gold. It says the inquiries are simply data collection, but Hindu groups are up in arms. Read More