New Delhi, Jan 23 (IANS) The central government has mobilised more than 900 kgs of gold under its gold monetization scheme, a senior official said on Saturday.
"Gold Monetisation Scheme: More than 900 kgs gold mobilised so far. Scheme making steady progress. Expected to pick up in coming months," Shaktikanta Das, secretary economic affairs, Finance Ministry, tweeted.
The central government had launched the gold monetization scheme on November 5, 2015, to convert jewellery and other yellow metal assets with people into interest-bearing deposits.
According to the World Gold Council, an estimated 22,000-23,000 tonnes of gold is lying idle with households and institutions in India. The annual imports amount to around 850-1,000 tonnes valued at $35-$45 billion.
