A delegation of the Commodity Participants Association of India met the commerce minister, Ms. Nirmala Setharama today and gave suggestions for improving the Gold Hindi Monetisation Scheme. The delegation led by Mr. B.K Sabharwal ,National President Commodity Council requested that the Number of centres to handle the scheme should be increased to 3500 from the present 350, The delegation request that interest rate for the Scheme should be decided in a manner that it is neither very high nor very low.

 The commerce Minster assured that the suggestions would be take up with the respective stake holders Discussion with the delegation centred on the Various Challenges that Gold Market is witnessing and/or likely to face in changing markets scenario apart from the opportunities available for it.

 The delegation also discussed plans for organizing many seminars based on the issues related to the Gold Monetisation Scheme in various parts of the country.

Gold monetisation scheme: industry urges expanded collection network and balanced interest policy to boost participation. Proposals for the Gold Monetisation Scheme call for a substantial increase in authorised collection centres to broaden access, an interest-rate mechanism calibrated to avoid excessively high or low returns, and formal consideration of these measures with stakeholders. The delegation also proposed nationwide seminars to raise awareness and address market challenges and opportunities related to scheme implementation.