India introduces yet another scheme to curb Gold | Thoughts Required Now For A Renaissance | Scoop.it
The bonds will be based on a fixed real coupon rate and a nominal principal value that will be adjusted against Wholesale Price Index (WPI)-based inflation.

 

NEW DELHI(BullionStreet): Continuing it's fight against gold, Indian government announced yet another scheme to keep people away from physical gold.

 

The world's largest gold consumer said it has decided to launch Inflation Index Bonds (IIBs) in consultation with Reserve Bank of India (RBI) as instruments that will protect savings of poor and middle classes from inflation and sensitize household sector to save in financial instruments rather than buy gold.

 

According to country's finance ministry, the first tranche will be introduced on June 4 and will be for 1,000 crore to 2,000 crore ...


Via Hal