Prime Minister Narendra Modi will launch three gold related schemes, including 'India gold coin' bearing Ashok Chakra, on Thursday to cash in on festival fervour.
Coins will be available in denominations of 5 and 10 grams while bar or bullion of 20 grams through MMTC outlets.
Besides, the Prime Minister will launch Gold Monetisation Scheme (GMS) and Sovereign Gold Bond Scheme.
The government had in September cleared the GMS aimed at tapping part of an estimated 20,000 tonnes of idle gold worth about Rs 5,40,000 crore into the banking system and also issuing Sovereign Gold Bonds as an alternative to the precious metal.
The decision to issue Indian gold coins and gold monetisation and bond scheme follows an announcement made by Finance Minister Arun Jaitley in 2015-16 Budget speech.
A finance ministry statement said 15,000 coins of 5gm, 20,000 coins of 10 gm and 3,750 Gold bullions will be available initially.The GMS will replace the existing Gold Deposit Scheme, 1999.
However, the deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the depositors prematurely withdraw them, it said.
The minimum deposit at any one time shall be raw gold (bars, coins, jewellery excluding stones and other metals) equivalent to 30 grams of gold of 995 fineness, it said, adding, there is no maximum limit for deposit.