PM Modi has urged Indians to put gold stashed in homes and temples in the bank, offering modest rates of interest that earlier schemes have lacked. His government has also launched 'paper' gold in the form of gold-backed bonds.
“A shortage of centers to assay the gold being put on deposit is a problem that the government has agreed to address,' said Anil Sankhwal, the northern regional chairman of India's Gem and Jewellery Export Promotion Council.
"Only 400 grammes have been deposited so far," Sankhwal told reporters after meeting financial ministry officials. "The government has agreed to review the scheme and open more centers for gold testing and depositing in banks," he added.
Indians have a deep attachment to gold, which they value not just as a wedding gift but also as a way to keep wealth away from the prying eyes of tax collectors.

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