Govt. mobilises 900 kg of gold under monetisation scheme

The government has announced that under the monetisation scheme, so far 900 kg of idle household and temple gold has been mobilized.

• Under the monetisation scheme, banks were authorised to collect gold for up to15 years to auction them off or lend to jewellers from time to time.
• Depositors will earn up to 50% interest per annum, a rate lower than savings bank deposits.

Currently, there are 46 assaying and Hallmarking Centres which are qualified to act asCollection and Purity Testing Centres (CPTC) for handling gold under the gold monetisation scheme.