Both the Bank of England and the Bank of Japan demanded the actual shipment of gold to their vaults. It would not just be a paper settlement. Gold bars of acceptable quality had to be airlifted and sent out. Though the final shipments began only in July, after the Narasimha Rao government took charge, the groundwork had to be done in secrecy through the summer months. RBI governor Venkitaraman and deputy governor Rangarajan personally supervised the entire operation.
