3.1 tonnes gold mobilised under monetisation scheme
The government has received deposits of 3.1 tonnes of gold under the Gold Monetisation Scheme since its launch in November 2015, Finance Ministry Joint Secretary Saurabh Garg has informed. Under the scheme, banks are authorised to collect gold for up to 15 years to auction it off or lend to jewellers, while paying depositors an interest of 2.5% per annum. 