Narendra Modi's Gold Monetisation Scheme is Gaining

By: DoYouKnow.IN$ | Views: 704 | Date: 14-Jan-2016

Narendra Modi Government's Gold Monetisation Scheme is gaining. Read article to know about gold deposited by investors.

In a boost to the government’s plans to monetize idle gold assets with households, the recently launched Gold Monetisation Scheme has received deposits totaling 512 kg.

Narendra Modi Gold Monetisation Scheme

“Gold Monetisation Scheme: More than 500 kg gold already mobilized. Scheme picking up,” Economic Affairs Secretary Shaktikanta Das said in a series of tweets on Thursday.

Sources said that most of the deposits were from individuals and not temple trusts. Stressing that the Centre is committed to making “both Gold Bond and Monetisation schemes successful”, Das tweeted that the next issue of Gold Bonds will be open from January 18 to January 22.

In a statement, the Finance Ministry said the bonds would be sold through banks, the Stock Holding Corporation of India Limited and designated post offices and that it would be issued on February 8.

Finance Minister Arun Jaitley on Thursday held a video-conference with the chairmen and managing directors of banks urging them to reach out to potential investors for the bond issue. “The Finance Minister also discussed the banks’ preparedness for the second tranche of the Sovereign Gold Bond Scheme. He said that the government is keen to expand the scheme in the subsequent tranches as well,” said an official release.

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