By Admin 
Gold Monetization Scheme: Gold lying in homes and lockers across the country for years can now become a source of income for people. It is a matter of happiness that the Central Government is preparing to bring the Gold Monetization Scheme in a new avatar. According to media reports, a revised scheme may be announced soon, the objective of which is to include the gold lying in households in economic activities and reduce the dependence on gold imports.
What is Gold Monetization Scheme?
Talking about Gold Monetization Scheme, it was started in the year 2015. Under this scheme, people can deposit the gold kept in their homes in the bank and get interest on the deposited gold. At the same time, when the maturity date arrives, the money is given to the investor as per the rules.
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What will be the change?
If reports are to be believed, jewelers from across the country can be made collection partners in this scheme. Till now only banks were involved in this. With the involvement of jewelers, it will be easier for people to deposit gold and the participation of the common man is expected to increase. The government aims to bring a large amount of domestic gold into the financial system.
Why is there an eye on the gold in the house?
Indian families have thousands of tonnes of gold kept in their homes. On the other hand, the country has to import a large amount of gold every year, which puts pressure on the foreign exchange. If even a part of this domestic gold comes into the banking system, then the need for imports can reduce and the economy can benefit.
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What benefit will you get?
If the new scheme is implemented then you will also be able to earn interest on the gold kept at home. Apart from this, facility of safe storage can also be available. However, the final terms and interest rates of the scheme will be known only after the official announcement by the government.