India will allow citizens to deposit gold with banks to earn interest as the world’s second-biggest consumer seeks to cut reliance on imports by tapping idle bullion lying with households, according to a draft document of the program’s rules and people familiar with the matter.

Individuals and institutions can deposit minimum 30 grams in the form of bullion or jewelry under a so-called gold monetization scheme, the people said, asking not to be identified as the rules aren’t public yet.

The banks can decide the interest rate on the deposits, they said. The rules also propose to allow banks to use gold as part of the mandatory cash reserve and statutory liquidity ratios.

Finance Ministry Spokesman D.S. Malik declined to comment on the rules.

Finance Minister Arun Jaitley in February first announced the plan to tap a part of the 20,000 tons of locally stockpiled gold to reduce dependence on imports. The plan will allow jewelers to obtain loans in their metal account, Jaitley said in his annual budget speech on Feb. 28.

Gold consumption in India will rise to between 900 metric tons and 1,000 tons this year, according to the World Gold Council. Bullion is bought during festivals and marriages as part of the bridal trousseau or given as a gift in the form of jewelry.