MMTC PAMP calls for better Gold Monetisation Scheme

MMTC PAMP, a leading gold refiner, is calling for improvements to India's Gold Monetisation Scheme. This scheme allows households to deposit their gold at banks in exchange for interest, but so far, it has seen limited participation. A more appealing scheme could unlock significant household gold stocks that are currently not being utilized, helping to reduce India's reliance on gold imports and alleviate pressure on the current-account deficit.

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A better gold monetization scheme could increase gold recycling in India. This would decrease the country's reliance on imports and unlock household gold stocks.

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