Having notified the gold monetization scheme, the Reserve Bank of India (RBI) may also notify sovereign gold bond schemes, as per reports. Three schemes in effect would be launched including gold bonds, gold monetisation and gold coins.

The government had previously issued a circular in which gold bonds with a sovereign guarantee, required investors to deposit cash valued as per the price and the quantity of gold to be invested, reports say. Upon maturity, the money would be given to the customer as per the prevailing gold prices with interest payable every year, as per reports. The sovereign gold bond schemes may come into effect before Diwali, reports add.