Jewellery bodies seek gold scheme revamp, could unlock $90 bn in liquidity: Report

India's goldsmith and jewellery bodies have urged the government to revamp the Gold Monetisation Scheme (GMS) to curb gold imports without affecting domestic demand. Analysts said that monetising 5% of household gold could unlock up to $90 billion in liquidity, moneycontrol reported. The push comes after Prime Minister Narendra Modi called on citizens to defer gold purchases for a year.