India's gold monetization program:
- India has around 20,000 tons of gold lying in households and temples
- (Worth around $767 billion)
- The government wants to unlock the earning potential of this
- And last week announced draft rules for what it called a gold-monetization policy
- Aims to get owners to deposit their gold in the bank and earn interest
- Which should help the country meet demand
- But its success will depend on incentives offered to depositors and banks to take part, analysts caution.
The Wall Street Journal has the ungated article here, with an overview of the gold monetization plan
