Govt Calls Claims on Temple Gold Bonds as ‘False and Baseless’

Moneylife Digital Team 19 May 2026

Public Interest

The Government of India has dismissed as 'completely false, misleading and without any basis' reports and social media claims suggesting that it plans to introduce a monetisation scheme for gold held by temple trusts and religious institutions across the country.

In a clarification Union ministry of finance (MoF) says certain media reports and social media posts are falsely claiming that the government is planning to issue gold bonds to temples in exchange for temple gold reserves or that a proposal had already been approved for monetisation of temple gold holdings.

Rejecting the speculation, the government says no such proposal exists.

“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 MoF statement says.

The government also denied claims that gold plates on temple towers, doors or other temple structures would be treated as 'strategic gold reserves of India'.

“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 statement added.

The clarification comes amid increasing circulation of viral social media messages and reports alleging that the government was considering tapping temple gold reserves as part of a broader financial strategy.

The Union government urged citizens not to believe or circulate unverified information, warning that such rumours create unnecessary confusion and may mislead the public.

The government says any policy decision or new scheme would be communicated only through official channels, including authorised press releases, government websites and verified public communication platforms.

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

Comments

User

Kamal Garg

5 months ago

Earlier, during Arun Jaitley's regime, there were news (and of course not rumors) floating that in case of any bank going bankrupt or their CAR falling below a threshold level, public deposited will be "adjusted/gorged" up by the bank to shore up their CAR; and then, based upon huge uproar and serious public outcry, this proposal was dropped. And now, this rumor. God save this country from these finance minister/ministry officials who come up with these wild ideas only to create distrust among the citizens on this government.