NEW DELHI (Reuters) - Reserve Bank of India (RBI) said on Wednesday that it has sought quotes from banks to swap gold in its own vaults for international standard gold, in a "locational swap" designed to optimise the management of its reserves.
As a result of the arrangement, and subject to government approval, the central bank would release some relatively impure gold stocks onto the local market, helping to ease supply shortages arising from import curbs.
(Reporting by Suvashree Dey Choudhury; Editing by Douglas Busvine and Keiron Henderson)
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