Are jewellery saving schemes a good investment option?

...................Though one may argue that jewellery saving schemes give higher returns compared to banks whose recurring deposits give a return of 9-9.5 per cent, that comparison is quite incorrect due to the unequal risks involved. Unlike banks and NBFCs which are regulated by RBI, jewellers do not fall under the purview of any regulatory body. You may thus be left with limited recourse if you entrust large sums, especially to small time jewellers. The Reserve Bank of India is however said to be mulling over bringing such schemes under its purview, on the mushrooming of these schemes in the market.

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