Under the scheme gold can be deposited in jewellery, coin or bar (Photographer: Dhiraj Singh/Bloomberg) 

More Collection Centres Can Boost Gold Monetisation Scheme: Jewellery Body

The government has already mobilised 3.1 million tonnes of gold under the monetisation scheme since its launch in November 2015. But the Gems and Jewellery Federation believes the scheme can be made more successful if the government increases the number of collection centres across the country.

Speaking to BloombergQuint, Ashok Minawala, the director of the federation said that the government can raise on average 10-15 tonnes of gold every month, if it sets up collection centres in at least 500 towns and cities.