Gold Monetisation Scheme News

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How you can earn interest on gold under gold monetisation scheme

Gold Monetisation scheme was launched by the government in 2015 to bring the idle gold lying with the household in the financial system. Under the scheme you can deposit the idle gold with you with a bank and earn interest on it. Here are the other features of the scheme that you should know about.

31 Dec 2019
Money

Govt seeks industry suggestions to improve Gold Monetisation Scheme

In 2015, the government had launched the Gold Monetisation Scheme to mobilise the yellow metal held by households and institutions in the countryThe aim should be to encourage people to deposit their idle gold and earn income from it without losing ownership of the yellow metal

2 min read19 Dec 2019
Money

Why it makes sense to deposit physical gold in government’s Gold Monetization Scheme

The scheme was introduced in 2015 to mobilize idle gold lying with households and putting it to productive useYou can deposit gold for the short term (one to three years), medium term (five to seven years) or long term (12 to 15 years)

2 min read11 Dec 2019
Politics

RBI makes changes in Gold Monetisation Scheme

In 2015, the government launched the GMS to mobilise the gold held by households and institutions in the countryThe scheme allows banks’ customers to deposit their idle gold holdings for a fixed period in return for interest

1 min read19 Jan 2019
Industry

Gold monetisation scheme: Make interest payments now, RBI tells banks

After making the interest payments on the gold deposited, banks may raise claim to government through the Reserve Bank of India

1 min read17 Oct 2017
Market

Govt’s gold schemes fail to attract people due to lack of awareness: report

Various gold investment and savings schemes such as gold monetisation scheme failed due to lack of awareness among the masses, according to an IFMR study

1 min read16 May 2017
Market

Sovereign gold bond scheme’s fourth tranche to open by June-end

The government has been trying to make the sovereign gold bond scheme more attractive as it has received a lukewarm response so far

1 min read31 May 2016
Politics

Govt collects 2.8 tonnes of gold under gold monetisation scheme

Temples and trusts have so far deposited a total of 1,512 kilograms of gold under the scheme, says minister of state for finance Jayant Sinha

1 min read4 May 2016
Money

Capital gains on gold schemes tax exempt

More clarity on taxation of capital gains made from two gold schemes, and merged mutual fund plans

2 min read14 Mar 2016
Politics

RBI says banks to get commission for unlocking household gold

RBI said the govt will pay banks a 2.5% commission to unlock massive stash of gold under the gold monetisation scheme

1 min read22 Jan 2016
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