December 15, 2024 08:17 (IST)
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Gold Monetisation Scheme will be ready in coming weeks: PM Modi
New Delhi, Oct 25 (IBNS): Prime Minister Narendra Modi on Sunday announced that the Gold Monetisation Scheme will be available to the nation in the coming weeks.
He made this announcement in the 13th edition of his monthly radio address 'Mann Ki Baat.'
"Gold in our country has become a part of our social life. Gold is considered as a means of economic security. Gold is considered key during the crisis time. As we had promised in the budget, I am happy to announce today that ahead of the Diwali festival and the Dhanteras, we are going to launch an important project called 'Gold Monetisation Scheme'," Modi announced.
"Under this scheme, you can deposit your gold in the bank and the bank will give you interest," he said.
"Gold can be converted from dead money to a living force. This is what we want to do and I seek your support," Modi urged.
He also informed that India will mint its own gold coins which will carry the Ashok Chakra emblem. The coins will be of 5 gm and 10 gm in weight.
Besides, India will also introduce its own gold bullion. "It has been 70 years after Independence and still we are using foreign minted gold coins and bullion. Why can't we have our own?" he said.
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