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Informist, Wednesday, Apr. 29, 2026

 

NEW DELHI – The All India Gem and Jewellery Domestic Council has proposed a revamped Gold Monetisation Scheme framework, aiming to integrate jewellers and enable a digital gold system. The council has urged the Reserve Bank of India and the finance ministry to enable the conversion of physical gold into dematerialised gold balances held within the banking system, the council said in a release.

 

Under the proposed framework, investors would be able to monetise idle gold holdings such as coins, jewellery, and bullion without selling them. "This converts traditionally non-yielding assets into interest-bearing financial instruments, thereby enhancing portfolio efficiency without requiring liquidation of gold holdings," the council said. 

 

According to the council, India has witnessed strong investor demand for physical gold bullion and coins. "The revamped GMS framework seeks to effectively leverage this trend by enabling investors to seamlessly monetise such holdings," it added. Mobilising idle gold can also reduce import dependence, support domestic supply, and contribute to moderations of the current account deficit.

 

The proposed structure will also ensure a secure, compliant, and auditable gold monetisation ecosystem through end-to-end digital tracking of gold transactions under the existing scheme, the council added.  End

 

Reported by Afra Abubacker

Edited by Ashish Shirke

 

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