Gold Monetization Scheme in India

People of our country possess a huge amount of gold as we know India is the largest consumer of Gold. So this scheme deals with making the not utilized gold to be transformed into money or we can say it deals with the objective of making Gold productive. People will bring their gold possessions to banks, deposit there and get interest. It is just like we get when we deposit cash in banks. It is at this point where gold is expected to be monetized.