| The crux of the matter is that gold, which the scheme hopes to draw in, is not often stored as bars or coins — forms that lend themselves easily to be valued as a financial instrument. In India, gold is held by households in the form of jewellery.
The Finance Minister had spoken about it in the budget. The Finance Ministry published draft guidelines during the third week of May of a new gold monetisation scheme, which it proposes to implement after incorporating feedback from different sections. The idea to monetise gold is by no means new. In fact, various schemes to tap the gold hoard already exist. Though launched with a lot of fanfare, they have garnered very little subscription...............................................Full Article: Source
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