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Malabar Gold urges Centre to overhaul Gold Monetisation Scheme to unlock idle stockpile
Our read
If GMS reforms land, organised jewellers like Malabar could become deposit channels—build vault logistics, KYC flows, and retail-branch gold intake capabilities now to capture first-mover fee income.
The report
Malabar Gold & Diamonds submitted a proposal to Finance Minister Sitharaman and Commerce Minister Goyal recommending reforms to the Gold Monetisation Scheme, including lower minimum deposits (1gm), flexible redemption, shorter lock-ins, and integration of organised jewellers to mobilise idle domestic gold.
Reported figures
From the report. Source details below
| minimum deposit cut proposed from 10 gm to | 1 gm |
|---|---|
| 1-2% mobilisation could release | 600-700 tonnes |
Also in the report
- 700-800 tonnes annual gold imports
- 25,000-35,000 tonnes idle gold held
Why it matters to operators
Policy momentum around GMS revamp opens partnership whitespace with banks, refiners, and vaulting players—scope JV structures and acquisition targets in assaying, logistics, and certified refining ahead of rule changes.
The source
Filed
First seen