<h1>Gold Monetisation Scheme to replace existing schemes, allowing depositors interest and jewellers access to metal loans.</h1> The Budget proposes a Gold Monetisation Scheme replacing existing Gold Deposit and Gold Metal Loan Schemes, allowing depositors to earn interest in metal accounts, enabling jewellers to obtain loans in their metal accounts, and permitting banks and dealers to monetize gold. It also proposes a Sovereign Gold Bond carrying fixed interest and redeemable in terms of gold face value, and the development of an Indian Gold Coin to reduce demand for foreign coins and recycle domestic gold.