PM Modi launches India's first-ever gold coin, 2 other gold schemes


NEW DELHI, Nov 5 (Agencies) : Prime Minister Narendra Modi today launched India's first-ever gold coin and inaugurated two gold related schemes, including the gold monetisation scheme, aimed at luring tonnes of unused gold from households into the banking system.

"20,000 tonnes of gold is just lying unused. That is the reason we are poor," he said and added that "If we make some effort in the right direction, we can be free of this tag."

Under the gold monetisation scheme, people can deposit a minimum of raw gold (bars, coins, jewellery excluding stones and other metals) equivalent to 30 grams. There is no maximum limit for deposit under the scheme.

The aim of the scheme is to tap unused gold in private possession, bank lockers and deposit boxes lying idle. This will raise bank deposits and help them generate more liquidity.

The PM also unveiled the first-ever Indian gold coin with the National Emblem Ashok Chakra engraved on one side. These gold coins will be available in denominations of five and 10 grams.

A 20 gram gold bar will also be available. Initially, 15,000 coins of five gm, 20,000 coins of 10 gm and 3,750 Gold bullions will be offered.

PM Modi also launched the Sovereign Gold Bond, which will be issued by Reserve Bank India. These bonds will be denominated in multiples of gold with a basic unit of 1 gram, and their tenor will be for a period of 8 years with exit option from 5th year.

While launching these schemes, the PM said women will drive these schemes, which will empower them financially. "Women in India don't have anything in their name but gold. These schemes will give our mothers and sisters a sense of financial security," he said.

  

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Comment on this article

  • rajinder singh, punjab

    Sun, Feb 14 2016

    i want to know about wow scheme. kindly tell me about that

    DisAgree Agree Reply Report Abuse

  • Fredrick, Shirthady/Doha

    Thu, Nov 05 2015

    Do not involve any schemes of Modi and his cronies. It is a well planned conspiracy to loot, cheat and trap common and innocent citizens of the country systematically. He already waived thousands of crores of loans of his cronies with tax payers money Also laws are passed to raise funds from public by the discoms to cover their laks of crores dept.

    Ye bade pyar se public ko chuna laga raha hai. Hoshiyar.

    DisAgree Agree [1] Reply Report Abuse

  • Sandy, Mangalore

    Thu, Nov 05 2015

    Mr Modi, pls bring another scheme where all the intellectuals can return their awards. These gold schemes are of no use to them. They will be intolerant until they return the awards. Award wapsi scheme will make keep them happy.

    DisAgree Agree [1] Reply Report Abuse

  • pinto, mlr

    Thu, Nov 05 2015

    we are poor because black money is stocked abroad n not because of gold stocked in India. u said n promised during election rallies, baba ramdev, anna azare supported u. get that bak n we bee rich

    DisAgree Agree [2] Reply Report Abuse

  • Gangaram, Moodabidri

    Thu, Nov 05 2015

    KAPPU DUDDU PONDU PIDAI,, NANA MANJOL BANGARA LA POPUNDA PANDD....

    DisAgree Agree [1] Reply Report Abuse

  • KRPrabhu, B'luru

    Sat, Nov 07 2015

    Nana onji malla item saleg undu...Avu daada panujnda Kara bisale! Nana Kara bisale maared duddu malpare baaki undu!!!

    DisAgree Agree Reply Report Abuse

  • Dinesh, Mumbai

    Thu, Nov 05 2015

    I do agree with Hon. PM's launch of the gold schemes.....and this will have a great positive impact on the Indian Economy and the people of India.

    Congress now has no face to show and hence finding some or the other way to downgrade the ruling Modi's BJP govt. The people of India are well aware of scams that happened during the congress rule in India and which has affected the common people of India to a great extent. All the scams that happened during the congress rule were never addressed and have gone undercover. Our media will telecast such scam news for two days on the television as a 'breaking news' and thereafter will close the episode permanently. There were so many incidents of gang rapes, murders tha took place in India during the congress govt's rule but how many cases were really closed and the culprits were punished? And now congress is talking about intolerance....

    We the people of India are happy to have a PM like Modi. I am sure that India will have a bright future in the days to come.

    I appeal to the people of India that let us stand united as Indians and support our present government in the best possible ways.

    INDIAN....

    DisAgree [1] Agree Reply Report Abuse

  • Vishal D Souza, Mangalore

    Thu, Nov 05 2015

    Reason for intolerance award wapsi drama...
    1. Many of the award returnees have gas Agency business allotted by the previous government by dubious means. They were enjoying gas subsidies as there was no accountability & making huge profits.
    The day Jan Dhan Yojana came into effect & gas subsidy money gets trasferred directly to the account holders, they realised that this Government is unfair to them & they can't enjoy lavish life anymore. They feel like they should start searching jobs to live rest of the life & return the useless awards. Frankly speaking nobody heard their names till now even when they get awarded, we only came to know them during returning awards. That only says the real motive of their drama.

    DisAgree [19] Agree [13] Reply Report Abuse

  • Ram Shetty, Mangalore/Mumbai

    Thu, Nov 05 2015

    Vishal D Souza, Mangalore are you OK?

    DisAgree Agree [1] Reply Report Abuse

  • Anthony Lobo, Mangalore

    Thu, Nov 05 2015

    You need to read good articles, books and news, not the sad and bad stories in news and t.v. channels. Since we are not reading good books and magazines all the writers, poets are poor and living on Khadi clothes. The comment shows how well you are knowledgeable about those people who have received awards from state and institutions.

    DisAgree Agree Reply Report Abuse

  • Habib, mangalore

    Thu, Nov 05 2015

    Our many our gold,our bank account simply publicity for feku

    DisAgree [8] Agree [6] Reply Report Abuse

  • akul, Mulki

    Thu, Nov 05 2015

    Mr Modi, You are like 24/7 PM.Always do something new.Never sit alone and loot India ( like before). God bless you sir.

    DisAgree [11] Agree [11] Reply Report Abuse

  • Roshan, Mangaluru

    Thu, Nov 05 2015

    Looks like someone in the Modi Govt., has an eye on the gold offering lying idle in many temples around India.

    Or else this scheme is a failure. There might be 10 necklaces with a women, can anyone believe she will trade them for coins?

    DisAgree [4] Agree [5] Reply Report Abuse

  • KRPrabhu, Kudla/Bluru

    Thu, Nov 05 2015

    Whether these gold coins are made from gold smuggled through namma Managaluru Intl airport by 'otta pokuli' techniques?
    Ancha ittunda rate yencha ge?.....

    DisAgree [3] Agree [3] Reply Report Abuse

  • Vishal D Souza, Mangalore

    Thu, Nov 05 2015

    Ohh... Come on Modi, don't launch such schemes. Intellectuals, Artists, Actors, Liberals, Psuedo Seculars, psuedo Secular political parties, Writers drama will continue.
    They feel threatened, get jealous in a way how can a Chaiwala become so famous around the world within a short period.
    But strange thing is i never heard anything from common man speaking about Intolerance.
    I want all the Congress MP'S to resign enmass if they really feel that there is intolerance, just taking procession drama to president will not serve the purpose, let them resign, reelections happen , then decide.
    Only those enjoying life till May 2014 on Tax Payer money feel threatened, cut all Government perks provided to them on monthly basis.
    Shrimaan Modiji, just concentrate on the poor & middle class, no one can pressurise you. We the people are with you.
    Journalists should ask questions to common man not to those people who live a lavish life, media is not doing the right job.
    Frankly speaking Media is deviding the country.

    DisAgree [6] Agree [12] Reply Report Abuse

  • John R Lobo, Kaikamba

    Thu, Nov 05 2015

    Gate way to another Scam......beware IT dept will remove under garment once u deposit. They will ask source of income.

    Secondly, hubbies want live peacefully please don't take this scheme....Your Home minister will make your life miserable.

    DisAgree [4] Agree [2] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Nov 05 2015

    No Ullu Banaving ...

    DisAgree [11] Agree [7] Reply Report Abuse

  • Peace Lover, Mangalore

    Thu, Nov 05 2015

    rejoin the hearts first to become golden hearts.......

    DisAgree [1] Agree [4] Reply Report Abuse

  • gm, mlur

    Thu, Nov 05 2015

    What is the progress of all the schemes from last 18 months? Any s......

    DisAgree [9] Agree [24] Reply Report Abuse

  • CONRAD JOHN TAURO, SHIRVA/UDUPI/DUBAI

    Thu, Nov 05 2015

    Hallucination To Nation...

    DisAgree [4] Agree [14] Reply Report Abuse

  • jeevan, mangalore

    Thu, Nov 05 2015

    Really a good initiative..

    Chaddiless bhakts Protest against this move and march Rashtrapati Bhavan...

    DisAgree [36] Agree [26] Reply Report Abuse

  • yakub, dubai

    Thu, Nov 05 2015

    Good move, wait & watch weather can its successful or else loose your deposit.Finally trust the politician.

    DisAgree [6] Agree [10] Reply Report Abuse

  • Valerian D Souza, Mangalore/Dubai.

    Thu, Nov 05 2015

    Mr.Modi is a business man. He does something which is good for the country..If his ideas materialise then good for India.Apart from Gold, important issue is corruption here....!
    I wanted some certificate from Passport office and it had to route thru the police department which has channelled thru the agents...and agents asked me 12 thousand rupees....such a small thing...now I my self is in to the service without agent to get that certificate since 2 and a half months and still not finished......! Same thing I finished in Dubai thru consulate with in a week with nominal fees....without any problems...!

    DisAgree [5] Agree [20] Reply Report Abuse

  • j.anata, Mangaluru / Bengaluru

    Thu, Nov 05 2015

    Innovative schemes. Why UPA 1 & 2's Chidu did not think of this earlier?

    DisAgree [28] Agree [19] Reply Report Abuse

  • gm, mlur

    Thu, Nov 05 2015

    Yeth gold deposit malthar? Ithina pura deposit malpule.....

    DisAgree [5] Agree [21] Reply Report Abuse

  • Vishal D Souza, Mangalore

    Thu, Nov 05 2015

    They are Seculars, they only & only & only & only think about """"""SECULARISM""""""""""" & """""""LOOT""""""".

    DisAgree [4] Agree [4] Reply Report Abuse

  • Santosh,K, Mangalore

    Thu, Nov 05 2015

    we cannot believe MODI.After these people ask tax for gold scheme.

    DisAgree [10] Agree [26] Reply Report Abuse

  • Vishal D Souza, Mangalore

    Thu, Nov 05 2015

    Scheme is only for Believers. You can see Seculars alias psuedo Secular queues at the bank entry gates from tomorrow. They are the first ones to utilise this scheme but in public they just criticise everything.

    DisAgree [4] Agree [4] Reply Report Abuse

  • Peter, Bangalore

    Thu, Nov 05 2015

    Govt has money in treasury , idea is to get the loan from World bank with gold deposit.

    DisAgree [3] Agree [21] Reply Report Abuse

  • Bryan, Bahrain

    Thu, Nov 05 2015

    What! 20,000 tones of gold is just lying unused, Hahaha Hahaha, give it too some people from Kasargod, they can keep it safe in their rectum...

    DisAgree [6] Agree [20] Reply Report Abuse

  • Ram Shetty, Mangalore/Mumbai

    Thu, Nov 05 2015

    Bryan, Bahrain, why kasargod people why not you? Do you know what? with your comment you are dragging certain community people for no reason.

    DisAgree Agree [1] Reply Report Abuse

  • Hussain, Abudhabi

    Thu, Nov 05 2015

    Rs 15 lacs scheme kya huwa bhai ?

    DisAgree [11] Agree [31] Reply Report Abuse

  • shuba, mumbai

    Thu, Nov 05 2015

    15L per citizen into account yet to receive but a new scheme for the lower marginalised's only saved asset to loot is "gold"

    DisAgree [6] Agree [15] Reply Report Abuse

  • abdul samad, mangalore

    Thu, Nov 05 2015

    INDIA MUST NEED PEACE THAN GOLD COIN..WE CANT DO GOLD IF NOT PEACE IN INDIA

    DisAgree [5] Agree [15] Reply Report Abuse

  • gm, mlur

    Thu, Nov 05 2015

    Advertisement of Jwellery shops:

    Buy gold worth Rs.20,000 you will get a gold coin free.

    Particularly during festive season.

    DisAgree [2] Agree [11] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Nov 05 2015

    Fake or Duplicate ...

    DisAgree [9] Agree [17] Reply Report Abuse

  • MILAN, DXB

    Thu, Nov 05 2015

    JETMALANI SAYS MODI IS A FRAUD.

    HOW CAN WE TRUST MODI.

    DisAgree [28] Agree [61] Reply Report Abuse

  • krish, Dubai

    Thu, Nov 05 2015

    Dear Mr. MILAN,
    do you trust MR. JETMALANI???? or you believe in real fact????

    DisAgree [18] Agree [14] Reply Report Abuse

  • readerwriter007, pune

    Thu, Nov 05 2015

    don't listen to anybody because it's messy around. Just work yourself and see what has changed since an year, since Modi took over. Where India has reached with in few months , globally respected country and globally highly ranked personality is our PM. So, evaluate yourself and then you will realize what's Modi and why whole nation is supporting Modi, except the Congi supporters... you know why.

    DisAgree [19] Agree [13] Reply Report Abuse

  • Rohan, Mumbai

    Thu, Nov 05 2015

    lol waiting for congress to say that it was their idea.........

    DisAgree [15] Agree [7] Reply Report Abuse

  • Suman, Mangalore

    Thu, Nov 05 2015

    Nobody asked you to "Trust" him. You keep trust on your Gandhi family..lol

    DisAgree [20] Agree [12] Reply Report Abuse

  • ANIKETH, mumbai

    Thu, Nov 05 2015

    Good work . keep it up.I like your style just doing your work . you are not bothered about barking dogs.

    DisAgree [2] Agree [1] Reply Report Abuse

  • MILAN, DXB

    Thu, Nov 05 2015

    Aniketh

    THANKS

    DisAgree [1] Agree [1] Reply Report Abuse

  • Prabhakar Mendon, Katapadi/Dubai

    Thu, Nov 05 2015

    FEKU AT HIS BEST
    BRING BACK BLACK MONEY - FAKE
    15 LAKHS - FAKE
    WAR WITH PAKISTAN - FAKE
    BRING BACK DAWOOD IBRAHIM - FAKE
    SAB KA SATH SABKA VIKAS - FAKE
    PRISE RISE CONTROL - FAKE

    AYAN YERLA NAMBODCHI MALLA DAMBAL MARE...

    DisAgree [3] Agree [11] Reply Report Abuse

  • Salvador Pereira , Mangalore/Dubai

    Thu, Nov 05 2015

    Only thinking about business. No doubt he had no family and social life. Dear Modiji other than business there is life which India enjoyed. Since you have taken office other than generating money you have spoken nothing. How much you generated is separate matter.

    DisAgree [17] Agree [16] Reply Report Abuse

  • Hemanth, bangalore/Mnaglore/CT

    Thu, Nov 05 2015

    what a idea...Hope this works well...

    DisAgree [4] Agree [14] Reply Report Abuse

  • Anees, KARKALA

    Thu, Nov 05 2015

    AS PER ASTROLOGERS SUGGESTION and RECOMMENDATION DOING HIGH VALUE COMMODITY LAUNCHES,TOURING COUNTRY,ALWAYS GET FORBES TOP PERSON..ETC....TO AVOID IMMEDIATE FALL...FROM POSITION....

    DisAgree [7] Agree [6] Reply Report Abuse

  • Harsha, Mangalore/Malaysia

    Thu, Nov 05 2015

    Nice Policy....People buy gold and keep in lockers....This is a loss for the country as the flow of money is stopped....
    Gold monetization will automatically increase the liquid cash in the market....automatically govt will get money for infrastructure and other investments....
    SUPERLATIVE thinking of modi....Hats off to the best PM ever....
    Eagerly awaiting MalaysiaWelcomesModi..

    DisAgree [12] Agree [25] Reply Report Abuse

  • shaan, manglore/dubai

    Thu, Nov 05 2015

    Just for NaMO Publicity & This will not workout current Indian society its only fulfill Guajarati Gold lobby's dream to make money........
    Before this PM should take other serious issue like farmers suicide, beef eaters kills, Burning Dalit'(intolerance)also scheme for peoples, who are living below poverty lines..

    DisAgree [16] Agree [12] Reply Report Abuse

  • sid, mangalore

    Thu, Nov 05 2015

    wow great Idea Sir . All the best and we are proud of your efforts in making India grow

    DisAgree [11] Agree [30] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Thu, Nov 05 2015

    Let all the party members, Ministers, Ashram Gurus, Temple trusts etc. give a lead.
    Black money in Billions of Dollars failed to be brought back, Economic developments yet to yield dividends and now from public wealth country has to shoot to new economic heights.
    Every day is not a Sunday and people are not that dumb to support the scheme. They have already realized how realistic you and your government is!
    ‘You can fool some of the people all of the time, and all of the people some of the time, but you cannot fool all of the people all of the time’
    Abraham Lincoln

    DisAgree [10] Agree [5] Reply Report Abuse

  • mohan, mangalore

    Thu, Nov 05 2015

    As a Gujarati business man what else he can do. Gujarati gold merchants gave him money for this. Now it good for Gujaratees make more black money in the form of Gold

    DisAgree [12] Agree [23] Reply Report Abuse

  • MILAN, DXB

    Thu, Nov 05 2015

    NOW MODIS EYES ON WOMENS GOLD.

    DisAgree [17] Agree [53] Reply Report Abuse

  • Ram Shetty, Mangalore/Mumbai

    Thu, Nov 05 2015

    WOW!! WOW!! WOW!! "20,000 tonnes of gold is just lying unused. That is the reason we are poor," SO THIS IS THE ONLY WE ARE POOR???? You are a amazing PM, before coming to power you and your guys were preaching we are poor because UPA government is stealing the wealth and all the money is gone out and so you guys will bring back. Sometime back Jetly said all the black money is still in India and now you are saying this, it means all the black money is with us and it is in a form of Gold.

    DisAgree [11] Agree [36] Reply Report Abuse

  • Mahendra Shetty, Mumbai Mangalore

    Thu, Nov 05 2015

    PM MODI LAUNCHES NEW SCHEMES AND PREVIOUS CHOR GOVT INTRODUCED NEW SCAMS EVERYDAY!

    DisAgree [59] Agree [35] Reply Report Abuse

  • William, mangalore

    Thu, Nov 05 2015

    Few people like you are enough for Feku to introduce new new schemes everyday. Surprised to see your blindness that there is no limit. Most of the bhakts already realised that they just heard but not benefited personally.

    DisAgree [15] Agree [26] Reply Report Abuse

  • Rahul, Mangalore

    Thu, Nov 05 2015

    Good move PM

    DisAgree [28] Agree [28] Reply Report Abuse

  • Shaleen, Mangalore

    Thu, Nov 05 2015

    Wah great Modiji..May God Bless you...we need you as our PM for another 15 years.

    DisAgree [34] Agree [40] Reply Report Abuse

  • Praveen, Kulshekar

    Thu, Nov 05 2015

    Mr.Modi what about the gold seized by authorities, any account of that and what about the black money that you promised will be deposited to our account. Eye on our gold and deposits later, we are suffering because of tax deductions on LIC schemes aswell

    DisAgree [21] Agree [28] Reply Report Abuse

  • shetty, Mangalore

    Thu, Nov 05 2015

    Praveenanna....This scheme is part of the black money fight....Don't worry nobody will touch your gold.....Since you mentioned money in your A/c, in this scheme there will interest paid every year.....Also these are sovereign bonds......
    Please take a wise decision & works towards nation building rather than check your bank A/c daily for free money receipt, a promise which is propagated only by the likes of Laloo & Co.....

    DisAgree [4] Agree [12] Reply Report Abuse

  • Praveen, Kulshekar

    Thu, Nov 05 2015

    Shettrey, Iam losing on my deposits, now he asks us to deposit gold and later impose tax on it. Now Iam worried why I took LIC policies during maturity I will get zero after deducting the service tax,just work on it . I don't want free money but your boss promised 15 lacs each, if the up ahead promised you would have commented other way round.

    DisAgree [4] Agree [7] Reply Report Abuse


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Title: PM Modi launches India's first-ever gold coin, 2 other gold schemes



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