To unlock idle gold, government may ask jewellers to take deposits in proposed scheme

Wed Aug 19 2026

To mobilise gold lying idle with people, the government is in talks with jewellers to introduce a monetisation scheme where subscribers will be offered interest income on the value of gold deposited.

According to sources in the jewellery industry, the government has been in talks with big players wherein jewellers will assume a key role to mobilise gold. Discussions have been constructive, and a scheme could be announced soon, a top industry source told The Indian Express.

The proposal is for depositors to head to their nearest jeweller and deposit physical gold.

The talks come at a time when the exchange rate is under pressure due to many factors: elevated fuel prices following the West Asia crisis, investor concerns about the domestic stock market, and elevated gold imports.

Source: https://indianexpress.com