What is Gold Monetisation?
Gold Monetisation Scheme is the scheme where a citizen can deposit their gold in return for interest or dividend.
Why is this scheme brought into action?
Normally, people keep their gold in the bank locker which turns out to be beneficial when they sell that gold to the present higher prices but along with that they also incur bank locker charges i.e. carrying cost, it is charged for the time the gold is kept in the banks locker. This scheme helps citizens to avoid such charges and earn interest on the gold deposited.