A working group of the Reserve Bank of India (RBI) has suggested this. The gold corporation or the gold bank could be a refinancing option for financial institutions that lend against gold. The bank could also be empowered with decisions related to gold in the country. These could include gold policies, official gold purchases, selling gold in the country, issuer of gold bonds, etc. It could also be made in charge of handling the country's gold reserves which stood at US$ 27.8 bn on December 21, 2012. The bottom-line is that the country could use an entity like a gold bank. Gold imports have been staggeringly high. Indians have traditionally loved gold. And with the economic uncertainty and volatility, people have turned to gold as a safe haven. This has contributed to our current account woes. Traditionally, RBI has taken care of our gold issues. But with high inflation and monetary issues the central bank does have its hands full. It would therefore be a welcome relief if it could set up an entity that could be entrusted with the responsibility of managing gold.