New Delhi, June 3 -- India should expand gold monetisation beyond traditional gold loans and develop more financial instruments linked to the precious metal to reduce dependence on gold imports and ease pressure on foreign exchange reserves, according to Shamika Ravi, Member of the Economic Advisory Council to the Prime Minister (EAC-PM).

In an exclusive interview with ANI, Ravi said gold in India is already being monetised through popular gold loan products, but there is a need to broaden the range of financial instruments available to households.

On the monetisation of Gold, Ravi also clarified that no one was seeking to take away people's gold and that monetisation was already happening through financial products.

"It is already get...