Ashoka Chakra Gold Coin Soon

Posted on 28th Feb 2015 01:13 pm by mohit kumar

New Delhi, Feb 28 (IANS) India will soon have its own gold coin, with the Ashoka Chakra minted on it.

Finance Minister Arun Jaitley Saturday proposed to produce gold coins domestically with the Ashoka Chakra emblem to help the government recycle gold internally.

"I propose to mint gold coins with the Ashoka Chakra which will help to recycle gold internally in India," he told the Lok Sabha during his budget speech.

Jaitley said Indian consumers depend on foreign gold coins to meet their needs which results in Indian cash landing up in external markets.

India imports 800-1000 tonnes of the yellow metal each year.

Besides, the minister said he proposed to introduce a gold monetization scheme by which one can earn interest on gold savings.

He also planned to introduce a sovereign gold bond scheme -- similar to mutual funds scheme.

Other news

Baltimore Bridge Collapse: Two bodies were found a day after the bridge collapse; Officer said – the ship's crew is helping in the investigation

A search operation is underway in the Patapsco River after a bridge collapsed in Baltimore city o

ED Action: BS-3 vehicles were "fraudulently" registered as BS-4 vehicles, now property worth crores seized

The Enforcement Directorate (ED) on Wednesday said it has attached more than Rs 22 crore of forme

Parineeti Chopra: Parineeti and Raghav's house will soon resonate with laughter, the actress announced her pregnancy

Bollywood actress Parineeti Chopra and her husband-politician Raghav Chadha, are going to become

Broken Rice Export: Broken rice can be exported with conditions till September 30, the government approved

The government has now permitted for export of broken rice till 30 September. But this can be don

2.76 lakh cases were received in 24 hours, 3.68 lakh were cured; Seventh consecutive days when the number of recoveries was more than the new patients

Corona cases are continuing to decrease in the country. In the last 24 hours, 2 lakh 76 thousand

Air Pollution: SC reprimanded for opening schools in Delhi, said - elders work from home and children have to go to school

The Supreme Court is hearing on Thursday regarding air pollution in the capital of Delhi. The cou

President greets nation on International Women's Day

New Delhi, March 8 (IANS) President Pranab Mukherjee extended his greetings to women on Sunday o

Cheaper 5G phone will not be available than this, buy from Amazon in launching an offer for less than Rs 10,000.

Amazon Deal On Smartphone: The cheapest and best feature phone supporting 5G network has gone on

Ravi Shastri rocking with Ranveer Singh: Former coach's sizzling dance on the song for Hum Bane Tum Bane Ek Duje, see Latte-Jhatke

Team India's former coach Ravi Shastri and Bollywood actor Ranveer Singh's sizzling dance is goin

GrokAI: Now Grok abuses Tej Pratap, has Elon Musk's AI gone out of control?

X's AI chatbot Grok has abused RJD chief Lalu Prasad Yadav's son Tej Pratap Yadav in his tweet ab