Most Indian's don't trust banks because they have had so many failures of the last century, they store wealth in wearable gold instead. The I-T Act allows the seizure of gold including jewellery if you have more than $19K per married lady, $8.5K per unmarried lady and $3.8K per male. You then have to prove where you got it from to get it back. Good luck with that in a country where the average worker is paid in cash with no receipt.