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In a bid to promote paper gold in India, bullion experts have proposed a separate gold saving account along with the rupee saving bank account for consumers.
Deliberating on the issue in a webinar organised by Assocham, Somasundaram PR, managing director, World Gold Council (WGC) India, said, "Consumers should be given an option with separate gold saving account along with the rupee balance account in banks to enable them to transact directly in the bullion.”
Currently, transaction in paper gold is available in the form of exchange-traded fund.
Various stock exchanges also offer 1 gram gold trading facilities to attract participation from retail
