The Gold Monetization Scheme (GMS) and Sovereign Gold Bonds Scheme (GBS) approved by the Indian cabinet on Wednesday will help narrow the country’s overall current account deficit, according to Macquarie analysts. Tanvee Gupta Jain notes in her Sept. 10 research report titled “India Insight” that the latest announcements are intended to channelize savings and investments in gold into financial assets. Indian households have substantial holdings in gold Jain points out that the Gold Monetization Scheme (GMS) is aimed at mobilizing part of the 22,000 tons of gold held by Indian households and gold held by other institutions into productive use. Highlighting…
India's Two New Gold Schemes Could Narrow CAD: Macquarie
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports
Comments are closed.