The Union finance ministry today ruled out any plan to issue bonds to temple trusts in exchange for gold reserves held by them. 

Issuing a clarification on monetisation of gold holdings of the temples in the country, the ministry said certain media reports and social media posts are circulating with claims that the government is planning to issue gold bonds to temples in exchange for temple gold reserves or that a proposal has been approved for monetisation of 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 a short while back. 

"It is also clarified that claims suggesting that gold plates on temple towers, doors, or other temple structures will be considered as “strategic gold reserves of India” are false, misleading, and entirely baseless," the ministry said. 

"Citizens are requested not to believe or circulate such rumours. Spreading unverified information creates unnecessary confusion and may mislead the public," the ministry said.  

"The government urges all citizens to rely only on official communications issued through authorised channels," it said. 

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

In the wake of the ongoing West Asia crisis, Prime Minister Narendra Modi has urged the citizens to reduce fuel consumption, postpone foreign travel and destination weddings abroad, and cut down gold purchases. PM Modi also said there is a need to bring back the culture of work from home. 

PM Modi said supply chains have been under pressure ever since the Covid pandemic and Ukraine crisis and the war in West Asia has aggravated the challenges.