• Latest
  • Trending

Indian government wants to monetize gold but demonetization of currency is driving people to invest in gold

November 17, 2016
Over 50 killed in blast at Pakistan rally to mark prophet’s birthday

Over 50 killed in blast at Pakistan rally to mark prophet’s birthday

September 29, 2023
Sri Lanka Cricket (SLC)

WATCH: Sri Lanka Vs Bangladesh World Cup warm-up match (Live)

September 29, 2023
China

What China’s economic problems mean for the world

September 29, 2023
Haikun: Taiwan unveils new submarine

Taiwan unveils new submarine to fend off China

September 29, 2023
Cricket World Cup 2023

All the squads for ICC Men’s Cricket World Cup 2023

September 29, 2023
Anniversary of India-Lanka Technical Cooperation Programme celebrated

Anniversary of India-Lanka Technical Cooperation Programme celebrated

September 28, 2023
China presents its blueprint for a better world

China presents its blueprint for a better world

September 28, 2023
Saga of the takeover of Kandy seen through British eyes

Saga of the takeover of Kandy seen through British eyes

September 28, 2023
China presents its blueprint for a better world

China presents its foreign policy blueprint

September 28, 2023
Danushka Gunathilaka launches second bail bid

Danushka Gunathilaka found not guilty of sexual assault

September 28, 2023
Amnesty says India is misusing FATF to persecute rights defenders

Amnesty says India is misusing FATF to persecute rights defenders

September 28, 2023
Whatsapp. Image credits - AARN GIRI / Unsplash

New features introduced in Whatsapp’s latest update

September 28, 2023
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact
Friday, September 29, 2023
No Result
View All Result
NewsIn.Asia
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Over 50 killed in blast at Pakistan rally to mark prophet’s birthday

    Over 50 killed in blast at Pakistan rally to mark prophet’s birthday

    Sri Lanka Cricket (SLC)

    WATCH: Sri Lanka Vs Bangladesh World Cup warm-up match (Live)

    China

    What China’s economic problems mean for the world

    Haikun: Taiwan unveils new submarine

    Taiwan unveils new submarine to fend off China

    Cricket World Cup 2023

    All the squads for ICC Men’s Cricket World Cup 2023

    Anniversary of India-Lanka Technical Cooperation Programme celebrated

    Anniversary of India-Lanka Technical Cooperation Programme celebrated

    China presents its blueprint for a better world

    China presents its blueprint for a better world

    Saga of the takeover of Kandy seen through British eyes

    Saga of the takeover of Kandy seen through British eyes

    China presents its blueprint for a better world

    China presents its foreign policy blueprint

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    China

    What China’s economic problems mean for the world

    Haikun: Taiwan unveils new submarine

    Taiwan unveils new submarine to fend off China

    Saga of the takeover of Kandy seen through British eyes

    Saga of the takeover of Kandy seen through British eyes

    Whatsapp. Image credits - AARN GIRI / Unsplash

    New features introduced in Whatsapp’s latest update

    This dish on Mugaritz's tasting menu is called "Technique: beef contrasts."

    This country has more of the world’s 50 best restaurants than any other

    Nepal

    Nepal breaks several T20I world records in Asian Games

    ICC Men’s Cricket World Cup

    How has ODI cricket changed since 2011?

    More than 100 dead, 150 injured in Iraq wedding fire

    More than 100 dead, 150 injured in Iraq wedding fire

    Biden’s campaign team to prevent him from falling

    Biden’s campaign team to prevent him from falling

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    Jawan is releasing on 4000 screens internationally. It is the widest release for an SRK centric film (Credit: Red Chillies Entertainment)

    This actor is so huge his fans lined up at 4.30 a.m. to watch his new movie

    Instagram. Solen Feyissa @solenfeyissa / Unsplash

    New report reveals highest earners from Instagram posts

    Barbie

    Lebanon bans ‘Barbie’ movie

    How I came to love ‘Oppenheimer’ and still detest the bomb

    How I came to love ‘Oppenheimer’ and still detest the bomb

    Rajnikanth

    Back Offices in Chennai, Bengaluru declare holiday on August 10 for Rajnikanth’s ‘Jailer’ movie premiere

    Taylor Swift

    Taylor Swift Seattle concert generates seismic activity

    Actors Emily Blunt (L), Cillian Murphy (centre) and Florence Pugh (R) at the premiere of Oppenheimer. Image credits - Getty Images.

    Hollywood actors announce historic strike

    Hugh Jackman dons classic Wolverine suit in Deadpool

    Hugh Jackman dons classic Wolverine suit in Deadpool 3 first look

    David Corenswet and Rachel Brosnahan will star in the film, set to come out in 2025. Image credits - Getty Images

    Superman: Legacy finds its Superman and Lois Lane

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    This dish on Mugaritz's tasting menu is called "Technique: beef contrasts."

    This country has more of the world’s 50 best restaurants than any other

    Biden’s campaign team to prevent him from falling

    Biden’s campaign team to prevent him from falling

    This dish on Mugaritz's tasting menu is called "Technique: beef contrasts."

    The world’s 50 best restaurants for 2023 revealed

    The Upper House (Hong Kong): This beloved Hong Kong classic sits above Admiralty's Pacific Place and features 117 luxuriously-designed rooms. Courtesy Upper House Hong Kong

    World’s 50 best hotels for 2023 revealed

    Indian government’s decision to delay the census raises suspicions, says Lancet

    Indian government’s decision to delay the census raises suspicions, says Lancet

    This airline wants you to travel without clothes

    This airline wants you to travel without clothes

    Sleep. Image credits - Priscilla Du Preez @priscilladupreez / Unsplash

    Diabetes risk increased by 19% due to one common sleeping habit, study finds

    Barcelona. Image credits - Logan Armstrong loganstrongarms

    The best ‘workcation’ cities for remote and hybrid workers around the world

    Child. Image credits - Ippei Naoi | Getty

    Netherlands, home to the world’s happiest kids—6 things parents here never do

    The roots of Chandrayaan 3’s success   

    The roots of Chandrayaan 3’s success   

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Whatsapp. Image credits - AARN GIRI / Unsplash

    New features introduced in Whatsapp’s latest update

    iPhone 15 and iPhone 15 Plus feature a gorgeous new and durable design, the Dynamic Island, a powerful 48MP Main camera, and A16 Bionic.

    iOS 17 release: See what’s new in iPhone features

    How to erase everything that Google and Facebook know about you

    How to erase everything that Google and Facebook know about you

    Apple

    France orders Apple to halt iPhone 12 sales

    iPhone 15 and iPhone 15 Plus feature a gorgeous new and durable design, the Dynamic Island, a powerful 48MP Main camera, and A16 Bionic.

    Apple debuts iPhone 15 and iPhone 15 Plus

    Apple will host its iPhone 15 launch event called “Wanderlust” in California CREDIT: APPLE INC HANDOUT/EPA-EFE/Shutterstock

    iPhone 15 launch (Live)

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Over 50 killed in blast at Pakistan rally to mark prophet’s birthday

    Over 50 killed in blast at Pakistan rally to mark prophet’s birthday

    Sri Lanka Cricket (SLC)

    WATCH: Sri Lanka Vs Bangladesh World Cup warm-up match (Live)

    China

    What China’s economic problems mean for the world

    Haikun: Taiwan unveils new submarine

    Taiwan unveils new submarine to fend off China

    Cricket World Cup 2023

    All the squads for ICC Men’s Cricket World Cup 2023

    Anniversary of India-Lanka Technical Cooperation Programme celebrated

    Anniversary of India-Lanka Technical Cooperation Programme celebrated

    China presents its blueprint for a better world

    China presents its blueprint for a better world

    Saga of the takeover of Kandy seen through British eyes

    Saga of the takeover of Kandy seen through British eyes

    China presents its blueprint for a better world

    China presents its foreign policy blueprint

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    China

    What China’s economic problems mean for the world

    Haikun: Taiwan unveils new submarine

    Taiwan unveils new submarine to fend off China

    Saga of the takeover of Kandy seen through British eyes

    Saga of the takeover of Kandy seen through British eyes

    Whatsapp. Image credits - AARN GIRI / Unsplash

    New features introduced in Whatsapp’s latest update

    This dish on Mugaritz's tasting menu is called "Technique: beef contrasts."

    This country has more of the world’s 50 best restaurants than any other

    Nepal

    Nepal breaks several T20I world records in Asian Games

    ICC Men’s Cricket World Cup

    How has ODI cricket changed since 2011?

    More than 100 dead, 150 injured in Iraq wedding fire

    More than 100 dead, 150 injured in Iraq wedding fire

    Biden’s campaign team to prevent him from falling

    Biden’s campaign team to prevent him from falling

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    Jawan is releasing on 4000 screens internationally. It is the widest release for an SRK centric film (Credit: Red Chillies Entertainment)

    This actor is so huge his fans lined up at 4.30 a.m. to watch his new movie

    Instagram. Solen Feyissa @solenfeyissa / Unsplash

    New report reveals highest earners from Instagram posts

    Barbie

    Lebanon bans ‘Barbie’ movie

    How I came to love ‘Oppenheimer’ and still detest the bomb

    How I came to love ‘Oppenheimer’ and still detest the bomb

    Rajnikanth

    Back Offices in Chennai, Bengaluru declare holiday on August 10 for Rajnikanth’s ‘Jailer’ movie premiere

    Taylor Swift

    Taylor Swift Seattle concert generates seismic activity

    Actors Emily Blunt (L), Cillian Murphy (centre) and Florence Pugh (R) at the premiere of Oppenheimer. Image credits - Getty Images.

    Hollywood actors announce historic strike

    Hugh Jackman dons classic Wolverine suit in Deadpool

    Hugh Jackman dons classic Wolverine suit in Deadpool 3 first look

    David Corenswet and Rachel Brosnahan will star in the film, set to come out in 2025. Image credits - Getty Images

    Superman: Legacy finds its Superman and Lois Lane

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    This dish on Mugaritz's tasting menu is called "Technique: beef contrasts."

    This country has more of the world’s 50 best restaurants than any other

    Biden’s campaign team to prevent him from falling

    Biden’s campaign team to prevent him from falling

    This dish on Mugaritz's tasting menu is called "Technique: beef contrasts."

    The world’s 50 best restaurants for 2023 revealed

    The Upper House (Hong Kong): This beloved Hong Kong classic sits above Admiralty's Pacific Place and features 117 luxuriously-designed rooms. Courtesy Upper House Hong Kong

    World’s 50 best hotels for 2023 revealed

    Indian government’s decision to delay the census raises suspicions, says Lancet

    Indian government’s decision to delay the census raises suspicions, says Lancet

    This airline wants you to travel without clothes

    This airline wants you to travel without clothes

    Sleep. Image credits - Priscilla Du Preez @priscilladupreez / Unsplash

    Diabetes risk increased by 19% due to one common sleeping habit, study finds

    Barcelona. Image credits - Logan Armstrong loganstrongarms

    The best ‘workcation’ cities for remote and hybrid workers around the world

    Child. Image credits - Ippei Naoi | Getty

    Netherlands, home to the world’s happiest kids—6 things parents here never do

    The roots of Chandrayaan 3’s success   

    The roots of Chandrayaan 3’s success   

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Whatsapp. Image credits - AARN GIRI / Unsplash

    New features introduced in Whatsapp’s latest update

    iPhone 15 and iPhone 15 Plus feature a gorgeous new and durable design, the Dynamic Island, a powerful 48MP Main camera, and A16 Bionic.

    iOS 17 release: See what’s new in iPhone features

    How to erase everything that Google and Facebook know about you

    How to erase everything that Google and Facebook know about you

    Apple

    France orders Apple to halt iPhone 12 sales

    iPhone 15 and iPhone 15 Plus feature a gorgeous new and durable design, the Dynamic Island, a powerful 48MP Main camera, and A16 Bionic.

    Apple debuts iPhone 15 and iPhone 15 Plus

    Apple will host its iPhone 15 launch event called “Wanderlust” in California CREDIT: APPLE INC HANDOUT/EPA-EFE/Shutterstock

    iPhone 15 launch (Live)

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
NewsIn.Asia
No Result
View All Result
Home Around South Asia India

Indian government wants to monetize gold but demonetization of currency is driving people to invest in gold

Editor by Editor
November 17, 2016
in India
Reading Time: 2 mins read
3 0
A A
Share on WhatsApp

Mumbai, November 17 (NIA): While on the one hand, the Indian government is trying to monetize stowed away gold, the on-going demonetization of INR 500 and INR 1000 notes may result in people investing in gold which cannot be demonetized.

Reuters has reported that officials from the Indian Finance Ministry and the Reserve Bank of India met on Friday to discuss modifying the much-publicized scheme for attracting deposits of  three tonnes of gold in four months out of an estimated pool of 20,000 tonnes stacked away in family lockers and temple vaults.

But economic commentator Swaminathan S.Anklesaria Aiyer told Economic Times that demonetization of INR 500 and INR 1000 notes will make people go for gold which cannot be demonetized.

ADVERTISEMENT

He pointed out that the current demonetization drive by the Narendra Modi government has not only caused enormous difficulties for the urban poor and rural folk because they are still steeped in the cash economy, but will make people turn to gold as that cannot be demonetized.

Aiyar predicted that the demonetization drive will fail to achieve its objective of unearthing black money.

Economic commentor Swaminathan S.Anklesaria Aiyar
Economic commentator Swaminathan S.Anklesaria Aiyar

However, the process of monetizing gold is going on. Reuters has reported that the 200 year-old Shree Siddhivinayak temple in Mumbai, has said that it will deposit a portion of its gold hoard with a bank by the end of the month for recycling. It proposes to deposit in a bank, 44 tonnes of the 160 tonnes of gold which it has.

Dozens of rich temples have collected billions of dollars in gold jewelry, bars and coins over the centuries, hidden securely in vaults, some ancient and some modern. Sri Venkateswara Temple, the richest Hindu temple in the world popularly known as the Tirupati Temple, said at the end of last year, that it could deposit more than 5.5 tonnes under the monetization program.

India’s annual imports run to as much as 1,000 tonnes, accounting for about a quarter of the annual trade deficit.

Apart from monetization, last year Prime Minister Narendra Modi also launched a gold bond program to soften demand for physical gold.

 

 

Related Posts

Cricket World Cup 2023
Around South Asia

All the squads for ICC Men’s Cricket World Cup 2023

September 29, 2023
Anniversary of India-Lanka Technical Cooperation Programme celebrated
Development news

Anniversary of India-Lanka Technical Cooperation Programme celebrated

September 28, 2023
Amnesty says India is misusing FATF to persecute rights defenders
Governance

Amnesty says India is misusing FATF to persecute rights defenders

September 28, 2023
Outgoing Lankan envoy Moragoda takes leave of India’s Finance Minister
Diplomacy

Outgoing Lankan envoy Moragoda takes leave of India’s Finance Minister

September 28, 2023
AIADMK’s fresh salvo at Annamalai leaves its alliance with BJP in tatters
India

AIADMK’s fresh salvo at Annamalai leaves its alliance with BJP in tatters

September 26, 2023
Nepal refuses to join China’s security alliance
China

Nepal refuses to join China’s security alliance

September 26, 2023
  • Electricity

    Power cut schedule for today in Sri Lanka: Uninterrupted power supply

    60411 shares
    Share 24187 Tweet 15094
  • Registration open for National Fuel Pass

    6647 shares
    Share 2696 Tweet 1646
  • Foreign Currency Official Exchange Rates from Central Bank of Sri Lanka

    2097 shares
    Share 845 Tweet 522
  • 12 hour water cut in areas of Colombo

    817 shares
    Share 348 Tweet 195
  • WATCH : Yohani’s first live performance in India

    791 shares
    Share 329 Tweet 193
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact

© 2022 All rights reserved.

No Result
View All Result
  • Home
  • Around South Asia
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
  • Around The World
  • Breaking News
  • Business
    • Exchange
  • Climate Change
  • Governance
    • Crime
    • Diplomacy
    • Defense
    • Human Rights
    • Politics
    • Strategic Affairs
  • Lifestyle
    • Books
    • Entertainment
      • Arts
      • Cinema
      • Gaming
      • Music
      • Movie
      • Series
      • TV
    • Health
    • Fashion
    • Food
    • Travel
  • Culture
    • Ethnicity
    • Gender
  • Development news
  • Economy
  • Education
  • Environment
  • Coronavirus
  • History
  • National
  • Offbeat
    • Media
    • Music and arts across South Asia
  • Recommended
    • Headlines
    • Highlights
    • Top Picture
    • Top Story
  • Religion
  • Science
  • Sports
    • Football
    • Cricket
      • LPL
      • IPL
    • Tennis
    • Formula 1
    • NBA
  • Tech
    • Instagram
  • United Nations
  • Weather
  • World
    • Japan
    • Russia
    • United States
  • Videos

© 2022 All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

eskisehir escort -

https://www.vudols.com/

- mersin escort - Antalya korsan taksi -
ip booter
-
deneme bonusu
- deneme bonusu veren siteler - Kiralık bahis sitesi - vbet giriş