Investors' Awareness Towards Gold Monetization Scheme

Gold has a deep-rooted significance in Indian history, alluring people with its beauty, charm, and as a sign of wealth. The mindset of Indians investing in gold has increased some time. This may be due to cultural significance, sentimental values, and appreciations in the value of gold. Gold is considered as an auspicious symbol of wealth. Gold monetization scheme was launched on 5th November 2015 by the Prime Minister of India Mr. Narendra Modi to bring out the idle gold from the households and organization. Gold monetization scheme provides an opportunity for individuals to make a profit from the old jewelry lying in bank lockers and safety boxes. This scheme is useful for both government and gold holders, as the gold deposit account holders can earn interest from the idle assets lying either in their houses or in safety lockers. As far as, the Government of India is concerned, this scheme enables the government to reduce the import of gold