What is Gold Monetisation Scheme, in focus amid PM's 'no gold buy' appeal?

India's jewellery industry urged government to revamp the Gold Monetisation Scheme (GMS) amid PM Narendra Modi's appeal to avoid buying gold for a year. The scheme was announced in 2015 and aimed to mobilise idle gold held by households in order to reduce country's reliance on import. However, Medium and Long-Term Government Deposit components of GMS were discontinued in 2025.