More than 900 kgs of gold mobilised under monetisation scheme

New Delhi, Jan 23 (IANS) The central government has mobilised more than 900 kgs of gold under its gold monetisation scheme, a senior official said on Saturday.

“Gold Monetisation Scheme: More than 900 kgs gold mobilised so far. Scheme making steady progress. Expected to pick up in coming months,” Shaktikanta Das, secretary economic affairs, Finance Ministry, tweeted.

The central government had launched the gold monetisation scheme on November 5, 2015 to convert jewellery and other yellow metal assets with people into interest-bearing deposits.

According to the World Gold Council, an estimated 22,000-23,000 tonnes of gold is lying idle with households and institutions in India. The annual imports amount to around 850-1,000 tonnes valued at $35-$45 billion.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here