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Gold is now smuggled into Kerala in the form of credit and debit cards sans the magnetic stripe, according to Customs Department investigators. The bullion strips are often concealed in wallets and hand-baggage, making detection difficult.

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A bank in the Isle of Man — a possession of the British Crown located in the Irish Sea between Scotland, England, Ireland and Wales— is offering a 14-carat gold credit card to customers who have at least $168,000 (£100,000) of metal bars.

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As soon as the decision on demonetisation of Rs 500 and Rs 1,000 notes was announced on Tuesday night, large crowds gathered outside some jewellery stores in the city to convert their money into gold. "It took me at least one hour to pay.

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