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 2019In 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 2019The 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 2019In 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 2019After making the interest payments on the gold deposited, banks may raise claim to government through the Reserve Bank of India
1 min read17 Oct 2017Various 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 2017The 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 2016Temples 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 2016More clarity on taxation of capital gains made from two gold schemes, and merged mutual fund plans
2 min read14 Mar 2016RBI 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 2016The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared