RBI Sells Gold During QE And Low Rate Regime

RBI says it did not sell Gold.
RBI Sells Gold.

https://www.moneylife.in/article/rbi-sells-gold-on-high-reserve-surplus-transfer-to-centre/58516.html
Actually it should buy or keep the Gold,however small it may be,as QE and low interest rates result in higher prices for Gold ,Silver etc [and other asset classes ],due to consequent weakening of the $.

India's WB Loan V US Treasury Holdings

India continues to borrow from the World Bank @ 9.5% rate 
[ 2018 ].
https://www.moneycontrol.com/news/india/world-bank-to-continue-with-6-bn-annual-lending-support-to-india-4577921.html

https://data.worldbank.org/indicator/FR.INR.LEND?end=2018&locations=IN&start=2018&view=bar

India's US Treasury Holdings,as of June 2018,is $ 162.7 Billion.

https://www.statista.com/statistics/246420/major-foreign-holders-of-us-treasury-debt/ 

US Treasury Yield less than 2% now.Let us take 3%.

Arbitrage loss for $ 6 Billion = $ 0.39 Billion.

In Rupees = 28 Billion or Rs 2800 crores per annum.

India's total World Bank Debt $ 105 Billion.

Loss by arbitrage V US Treasury Holdings = About Rs 49000 Crores or Rs 490 Billion per annum.

RBI's Wrong Policy:Huge Repo Rate Cuts

NIRP has not helped the Eurozone and Japan,and the Low rate,the USA.The rates are already low.
European Banks have failed and the ECB is buying up Bonds of the Private Cos,and BoJ the Equities.
The US Federal Reserve also used to up,MBS,having low repo rates,at the same time.
Further rates cuts will destroy the already weak banks,Pension and Insurance Systems/Sectors,as the case may be,make Money Market insignificant and make Collateral,over-valued due to asset bubbles.