Gold Monetisation Scheme

The new gold monetisation scheme

  1. Gold Monetisation Scheme is fairly a good move to reduce GoI India’s gold import.
  2. Under the scheme, either individual or institutions can keep their gold deposits with the bank and bank in-return gives them interest.
  3. The RoI (rate of interest) is yet to be decided, but experts say it should be around 5 to 6%.
  4. Similar scheme was launched in 1999 but could not yield the desired result due to inherent problems.