The Press Information Bureau's fact-checking unit has dismissed as fake a viral claim circulating on social media that the Government of India is planning to issue gold bonds to temples in exchange for temple gold reserves. In a post on X, PIB Fact Check categorically stated that the government has 'not taken any such decision' and urged people to avoid spreading misinformation. The agency emphasised that citizens should rely only on official sources for verified information and warned against believing unverified claims spreading on social media platforms.
The Government of India has categorically denied rumours claiming it plans to monetise gold held by temples and religious institutions across the country. According to a detailed press release issued by the Ministry of Finance on May 19, 2026, such reports and social media speculation were described as 'completely false', misleading and without any basis. The Ministry has emphasised that no such scheme has been planned or approved by the Government and citizens should refrain from believing such rumours. The clarification comes amid widespread speculation online, with posts claiming the government intended to issue 'gold bonds' to temples in exchange for their gold reserves. The Centre on Tuesday rejected reports and social media claims suggesting it was considering a scheme to monetise gold owned by temples and religious institutions across the country.
Apart from households, a major portion of gold in India is estimated to hold in temples across India, with some reports suggesting it may be in the range of 2,500 to 4,000 tonnes. This gold is largely being donated by devotees as religious offerings, making it a significant portion of India's total gold holdings. The viral claims are spreading at a time when the Indian government is actively trying to reduce the gold import bill amid forex reserve pressure following the Iran-US war. The government has recently hiked import duty on precious metals to 15 per cent from 6 per cent, which includes 10 per cent custom duty and 6 per cent cess, coming a few days after Prime Minister Narendra Modi appealed to the nation to not purchase gold for a year.
The government has reiterated its commitment to transparency and responsible communication, stressing that no initiative concerning temple gold holdings has been approved, considered or proposed at any level. According to the press release, this particular episode highlights the increasing need for digital awareness and understanding of the role technology plays in information sharing. The government has emphasised the significance of effective fact-checking in an era where misinformation and misleading claims can spread rapidly online. The clarification also noted that false narratives can create unnecessary confusion and mislead the public, serving as both a factual correction and a warning against misinformation spread.
The Finance Ministry has emphasised that any official decision on government schemes or policy measures would only be communicated through authorised channels, including official press statements, government portals, and verified communication platforms. As per the ministry statement, 'The Government urges all citizens to rely only on official communications issued through authorised channels'. The government has warned that spreading unverified information creates unnecessary confusion and may mislead the public, urging citizens not to believe or circulate such rumours. The clarification follows a series of media reports and social media posts claiming that the Centre was preparing a policy involving gold reserves held by temple trusts and religious bodies.
