INDIA, December 23, 2015 (Deccan Chronicle): As the government seeks to monetize US$1 trillion worth of gold lying idle, all eyes are on their biggest temples. But many of them fear that melting ornaments donated by devotees may hurt religious sentiments.
The All India Gems and Jewellery Trade Federation is working on suggestions to be submitted to the Centre. The federation will ask the government to introduce a simple and practical process for jewelers to act as collection centres. Federation former chairman Bachhraj Bamalwa said, “The jewelers as of now are facing hardship to meet the conditions set by the government.”
The scheme: The Gold Monetisation Scheme, an ambitious initiative launched by Prime Minister Narendra Modi last month, aims to bring an estimated 22,000 tonnes of gold lying idle with households, religious institutions and others into the financial system in return for a regular interest payout and the market-linked appreciation value.
More at “source” above including sentiments of temples in several states.