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Ever since Prime Minister Narendra Modi appealed to people to curb gold purchases in an effort to reduce the country's import bill, various rumors have begun circulating regarding the matter—rumors that a government representative has now clarified. Speaking on the subject of gold monetization, a government official clarified that the initiative does not entail the confiscation of anyone's gold; rather, monetization is already taking place through various financial products. She stated that gold is, in fact, already being monetized. "I wish to assure you: no one is taking away anyone's gold." The pertinent question is whether we can design instruments—such as gold loans, which are already popular—to facilitate this process. However, we must now extend this approach to encompass other types of financial instruments as well, with the aim of reducing people's overall dependence on gold. She further noted that if one examines the business models of companies like Muthoot, Manappuram, and others in this sector, gold loans constitute their primary business vehicle. Prime Minister Narendra Modi urged people to exercise caution regarding—or to refrain from—excessive gold purchases primarily because India imports vast quantities of gold from abroad. This initiative represents an immediate effort to alleviate the pressure currently weighing upon our foreign exchange reserves. Given the deep-seated cultural sentiments associated with gold, bringing about a shift in this behavioral pattern is likely to take some time. 👉For Business Inquiries Contact Us At :- Email I'd - " [email protected] " ✅INSTAGRAM : @arvind.aroraj ✅ FACEBOOK PAGE : A2 motivation Arvind Arora ✅ TWITTER : @ArorajArvind ✅Arvind Arora Show Instagram : @thearvindarora.show Please Note :- Some of the pics and footages are not real and not related to content and only used for related visualization purposes. Please do not relate these with any real incidents. #shorts #a2motivation #a2sir #a2_sir #facts #viralvideo #shortmesikho #youtubeshorts #trendingshorts #gold #goldnews #goldprice #goldinvestment #goldloan #finance #investment #money #economy #business #stockmarket #financialfreedom #personalfinance #india #modi #narendramodi