The scheme has only attracted about one kilogram in a month, prompting the government to nudge temples through banks to hand over their treasures, the sources said, but at least one temple said it was still unconvinced by the plan.
“Convincing retail consumers is not an easy task, it takes time,” said a senior official with a state bank, who declined to be named. “We’re planning now to focus on institutions like temples.”
A finance ministry official said if banks fail to win over temples, the government could intervene directly by talking to the temples as it is looking for a big boost to the scheme to keep both imports and the current account deficit under control.
– From the Reuters article: India Targets Temple Gold Hoard to Rescue Monetization Plan
The Indian government has been trying to get its citizenry to relinquish its gold to the bankers for a very long time. I’ve covered this saga periodically over the past several years, most recently in last month’s post, A Warning to Indian Citizens – Your Government Wants Your Gold. Here’s an excerpt:
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