Govt debunks temple gold monetisation claims: 'Speculation and rumours completely false'

The Finance Ministry on Tuesday dismissed as "completely false, misleading and without any basis" reports and social media posts claiming that the government is planning to monetise gold held by temples and other religious institutions.

In a statement, the ministry said 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.

"Speculation and rumours suggesting that the Government is planning to introduce a monetisation scheme for gold held by temple trusts, or any religious institution, across the country are completely false, misleading and without any basis," the ministry said.

It also rejected claims that gold plates on temple towers, doors or other structures would be treated as "Strategic Gold Reserves of India", describing such assertions as entirely baseless.

The clarification comes amid reports citing 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.

The industry body has said 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.

IBJA suggested that ownership of the gold would remain with the trusts and that the proposal does not involve any permanent transfer to the government.

A social media post doing rounds claimed that the government will issue gold bonds to temples in exchange of their gold reserves and that the gold plates on the towers and doors of temples will be considered as “Strategic Gold Reserves of India”.

The ministry urged citizens not to believe or circulate unverified information, saying such rumours create unnecessary confusion and may mislead the public.

“The Government urges all citizens to rely only on official communications issued through authorised channels,” the statement said.

“Any information regarding policy decisions or government schemes will be shared through official press releases, government websites, and verified public communication platforms,” it added.