New Delhi: Indians can soon stop parking their money in gold coins with the faces of foreign kings and queens.
As part of the Budget proposals for 2015, Arun Jaitley on Saturday announced that India will soon have an Indian gold coin with the Ashoka Chakra as its face.
So the day when you will see Indian women sport long chains Ashoka Chakra coins hanging on it are not far away.
The Finance Minister also seems keen on cashing in on the gold in India, quite literally. He announced a gold monetisation scheme, including a sovereign gold bond with a fixed rate of interest. Interestingly, those investing in this bond will be able to redeem their investment at face value of gold on the day. This means a more liquid option for people who look at gold only as a means of investment.
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