1,840 pawned Goan gold packets still unclaimed

NT NETWORK
Posted on 2008-09-29
PANAJI- At least 1,840 packets of the nearly 6,500 packets of pawned Goan gold at the Portuguese Banco Nacional Ultramarino Bank taken to Portugal in 1961 and redeemed by the State Bank of India in 1991 still remains in the custody of the bank in the state.
The gold was redeemed at the time when the present NRI commissioner, Mr Eduardo Faleiro was the Minister of State for External Affairs and Mr Mario Soares was the Portuguese President. The custom exemption for the gold was initially granted till 2001 and extended till July 2006. The gold was taken back by the Portuguese during Goa’s liberation. The colonial rulers also took with them the gold against which loans were taken by Goans during the Portuguese rule.
According to sources, the gold was worth Rs 8-9 crore and was initially pledged by Goans for Rs 15 per 11.5 grams. The SBI took possession of the gold by paying Rs 4,000 per 10 grams in 1991 and after paying interest and 2 per cent service tax, the SBI had to allegedly pay Rs 42 lakh.
Presently, the gold is in the custody of a special cell under the guardianship of a custodian. Sources say that the reasons for the gold not being claimed include many people having lost their receipts, disputes due to fragmentation of families and also many times as the gold could have been pawned to money lenders.