The Finance Ministry on Tuesday categorically debunked a viral social media claim suggesting the Centre was planning to introduce a gold monetisation scheme for temple trusts and religious institutions across the country. The dismissal came almost a day after the claim went viral on social media, with a user named Prashanth Kini posting: 'Government of India will issue gold bonds to temples in exchange for temple gold reserves...!! The gold plates on the towers and doors of the temple will be considered as strategic gold reserves of India...''. According to the Press Information Bureau, the Ministry of Finance issued an official clarification stating that speculation about the Centre intending to issue gold bonds to temples in exchange for their gold reserves, or that any proposal had been approved to monetise temple gold holdings, was 'completely false, misleading and without any basis'. The ministry stated there is 'no proposal to issue gold bonds to temples in exchange for their gold reserves, nor has any scheme been approved to monetise temple gold holdings'. The denial was issued on Tuesday, emphasizing that such speculation and rumours are entirely unfounded.
The ministry also dismissed claims that gold plating on temple towers, doors and other structures would be treated as part of India's 'Strategic Gold Reserves'. As reported by the Press Information Bureau, the government stated that claims suggesting gold plates on temple towers, doors, or other temple structures will be considered as 'Strategic Gold Reserves of India' are false, misleading, and entirely baseless. The statement made it clear that there is no policy under consideration to include temple-owned gold in any government programme, with the government further rejecting rumours suggesting that a scheme was being planned to monetise gold owned by temple trusts and other religious bodies. The Upstox News Desk reports that the ministry described such assertions as 'entirely baseless' and emphasized there is no proposal to treat temple gold as strategic reserves.
The government's denial comes amid reports of a proposal by the India Bullion and Jewellers Association (IBJA) to bring nearly 1,000 tonnes of idle gold held by temple trusts into productive use through a monetisation framework. According to the Upstox News Desk, the industry body has suggested that the move could help reduce pressure on gold imports and foreign exchange outflows, while supporting employment in the jewellery sector, particularly among small jewellers and artisans. The IBJA proposal specifically stated that ownership of the gold would remain with the trusts and that the proposal does not involve any permanent transfer to the government. This context highlights the distinction between legitimate industry proposals and unfounded speculation that the government has now categorically rejected.
The government urged citizens not to believe or circulate such rumours, warning that the spread of unverified information can create unnecessary confusion and mislead the public. According to the ministry, any future announcement involving government policy would be communicated through official press releases, government websites and verified public communication platforms. The Upstox News Desk reports that the ministry specifically stated that 'The Government urges all citizens to rely only on official communications issued through authorised channels' and emphasized that 'Any information regarding policy decisions or government schemes will be shared through official press releases, government websites, and verified public communication platforms'. The clarification comes after a wave of posts on social media and some media reports claimed that gold owned by temples could be brought under a government-backed monetisation programme, with the government specifically requesting that citizens 'not believe or circulate such rumours' and advising people to rely only on official communications for policy information.
