What are Gold Bond and Gold Monetisation schemes?

After the Cabinet meeting Finance Minister Arun Jaitley said it is safer and economically more stable to go under both these schemes.

By: PTI | New Delhi | Updated: September 9, 2015 6:21:18 pm

The Cabinet on Wednesday approved Gold Bond and Gold Monetisation schemes to reduce the metal’s demand in physical form and fish out idle gold lying with households and other entities.

After the Cabinet meeting Finance Minister Arun Jaitley said it is safer and economically more stable to go under both these schemes.

Read Also: Cabinet clears gold bond, monetisation schemes

He said around 1,000 tonnes of gold is imported annually and people hold such quantum of idle gold just for investment purpose every year. By taking advantage of gold monetisation scheme, people can deposit idle gold with authorised agencies and take advantage of the price escalation of gold as well as earn interest on the deposit, he said.

What is Gold Monetisation scheme

Gold Monetisation schemes, gold, gold bond, arun jaitley, latest news, black money, cabinet, cabinet news

Gold Bond

Gold Monetisation schemes, gold, gold bond, arun jaitley, latest news, black money, cabinet, cabinet news

For all the latest Business News, download Indian Express App

Advertisement
Advertisement
Advertisement
Advertisement