As a part of its ongoing project on ‘Role of Financial Institutions in Monetisation of Gold in India’, Pahle India Foundation (PIF) presented the outcomes of the primary survey conducted as a part of the study, along with suitable policy recommendations. The recommendations covered various policy reforms around Gold Monetisation Scheme (GMS), Sovereign Gold Bond (SGB), India Gold Coin (IGC) and setting up of Gold Exchange and Gold Board (a body to regulate gold business in India). This was the final meet of the three stakeholder interactions, which had being organised by PIF as a part of this academic study.
The closed door discussion was presided by Shri Ajay Tyagi, Additional Secretary, Department of Economic Affairs (MoF) and were attended by senior officials from Ministry of Finance (MoF), Reserve Bank of India (RBI), Bureau of Indian Standards (BIS), Indian Banks’ Association (IBA), MMTC, World Gold Council (WGC), leading banks and exchanges; jewellery, hallmarking and refiner’s associations; academia and sector experts.
The final report of the study will be presented to Ministry of Finance for consideration as a part of PIF’s initiative to bring policy reforms in the financial sector.