“Governments have urged public sector banks to take up financial inclusion as a top priority and several initiatives have been taken to take banking to the door steps of the rural households. The lack of a well-developed banking system with sufficient penetration in rural areas could be a major reason for people to invest their savings in gold coins and jewellery. But the introduction of Aadhaar (universal identification system), and linking payment of subsidies through Aadhaar linked bank accounts could in course of time force people to think of alternatives to investing in gold, if they are found to be providing risk free returns.”
Related posts:
Ron Paul: Bernanke’s Farewell Tour
The Hugely Hypocritical Hillary
Trade Wars Mean the End of the Bull Market
Alfred McCoy: Tweeting While Rome Burns
Drugs, steel, and MKULTRA: engineering the super-soldier
Consequences of Power
FBI’s Latest Proposal for a Wiretap-Ready Internet Should Be Trashed
Language—even profanity—evolves faster than it can be regulated
Paul Craig Roberts: Why Are Obama and Kerry Desperate to Start a New War?
Pepe Escobar: War on terror forever
Just as Happened in Europe, the VAT Is Becoming a Money Machine for Big Government in Japan
'Ag-Gag' Bills, Property Rights, and Common Sense
The World’s Central Banks Blink
Fred Reed: Government Can't Protect Us From Terrorism
PRISM Takeaway: Are We Citizens or Serfs? Should Obama Resign?