| Pub. Date | : October, 2021 |
|---|---|
| Product Name | : The IUP Journal of Accounting Research and Audit Practices |
| Product Type | : Article |
| Product Code | : IJARAP241021 |
| Author Name | : Munawar Sayyad, Manu Sreenivasan, Kaushik Bhattacharjee and Vijayalakshmi S |
| Availability | : YES |
| Subject/Domain | : Finance |
| Download Format | : PDF Format |
| No. of Pages | : 17 |
The rapid growth in international portfolio investments in the last several decades reflects the globalization of financial markets. The major force behind this globalization of the financial markets though initially came from the governments of developed economies that started to deregulate their capital markets in the beginning of 1980s. Subsequently, the governments of developing countries such as India, Korea, Brazil and Mexico undertook measures to allow foreign investments in their capital markets by offering country funds or
Being a part of the ethos of every Indian household irrespective of the socioeconomic conditions, gold remains an integral and most important part of the investment portfolio of every member of this country. As a lot of sentimental value is attached to the gold possessed, it is never treated as an investment in the modern sense of investment but hoarded physically. As per the union budget for 2015-16, it is estimated that there were about 20,000 tons of gold in India that was not traded or monetized, offering huge potential for income generation, and hence the Gold Monetization Scheme (GMS) was launched.
In this paper, an attempt has been made to study the popularity of the scheme along with the preference of investors between public and private banks. An analysis has been done to evaluate the success of this scheme and study the difference in the performance of public and private sector banks.
Gold Monetization Scheme
Monetization refers to the process of converting a commodity into domestic currency. Gold monetization refers to unlocking the value of gold in terms of rupees. Gold Monetization