Demonetisation: No proposal to restrict gold holding by individuals
Saturday, November 26, 2016 IST
The government is not considering any proposition to confine holding of gold by people, a top back service source said on Friday.
Taking after the demonetisation of 500 and 1,000 rupee notes in an offer to take action against dark cash, there were misgivings among individuals that the administration may force some sort of confinements on gold holding by people.
"There is no such proposition before the legislature on confining local gold holding," the source said.
There were reports that many individuals have changed over their dark cash into gold after the declaration of demonetisation of high division coin notes by Prime Minister Narendra Modi on November 8.
The government had before denied that there was any move to digitize individual lockers in banks in the midst of bits of gossip in web-based social networking that they would be opened just within the sight of income authorities.
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