It is well-known that private gold holdings in India
But privately held gold in India
The Business Line report reminds us that S. Venkataramanan, the then Governor of the Reserve Bank of India (RBI) had mooted the idea of a Gold Bank way back in 1992 and the then Finance Minister Manmohan Singh had included the proposal in that year’s Central Budget. But a senior official of the RBI shot down the scheme. If implemented, it could have harnessed at least a part of this silent wealth for more meaningful use.
Annually, 700 tonnes of the yellow metal is sold in the country, according to P. Kishore in his column ‘Business Boom’ in today’s Malayala Manorama.
Who buys it?
Kishore says 17% of the gold is gobbled up by the tiny State of Kerala which accounts for about 3% of India
A sovereign costs about Rs.11000 these days!
Good investment? I suppose so. But how many can afford?
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7 comments:
south means gold....gold and gold...
need bpo jobs without a single rupee!!!!!!!! a genuine job from home.
Work from home
The picture shows what an upper middle class marriage is all about.
At the current rate, gold is a very good investment option. Due to recession, the gold prices will only appreciate in the coming future.
my god - how will that girl or her parents sleep properly ? with all that gold around her neck. maybe it goes into a locker, to add up to the many tonnes of gold. money that if in circulation can otherwise do good to the masses.
Mahesh, I think the craving for gold is spread all over India.
Kariyachan, many experts seem to agree with your view about gold as an investment.
Maddy, I think that India should have a re-look at the Gold Bank proposal.
Gold is becoming a headache these days... the thieves are becoming more daring.
When will the craze for this yellow metal decline?
nd does not the picture look so gross?
Even if one puts the metal in the locker, how long before the thieves become more desperate and breaks open even those too?
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