Malabar Gold urges Centre to overhaul Gold Monetisation Scheme to unlock idle stockpile
Malabar Gold & Diamonds has pitched Finance Minister Sitharaman and Commerce Minister Goyal to revamp the Gold Monetisation Scheme — cutting minimum deposits from 10gm to 1gm, allowing flexible redemption, shorter lock-ins, and onboarding organised jewellers. It argues even 1-2% mobilisation of India's 25,000-35,000 tonnes idle gold could release 600-700 tonnes, curbing 700-800 tonne annual imports.
What happened
Malabar Gold & Diamonds submitted a proposal to Finance Minister Sitharaman and Commerce Minister Goyal recommending reforms to the Gold Monetisation Scheme,
Key facts
- 700-800 tonnes annual gold imports
- 25,000-35,000 tonnes idle gold held
- minimum deposit cut proposed from 10 gm to 1 gm
- 1-2% mobilisation could release 600-700 tonnes
Why this matters
Policy momentum around GMS revamp opens partnership whitespace with banks, refiners, and vaulting players—scope JV structures and acquisition targets in assaying, logistics, and certified refining ahead of rule changes.