July 11, 2026 07:14 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Foreign franchise league enters India! BBL opener to be played in Chennai, announce Modi-Albanese | 'They could have stopped me': Vijay blames police, former DMK government over Karur stampede | 'People will correct their 2025 mistake': Electoral debutant Prashant Kishor predicts BJP defeat in Bankipur | New assassination plot against Trump? Israel's secret intelligence raises alarm amid escalating Middle East tension | Ayatollah Ali Khamenei buried at Iran's holiest shrine as Middle East crisis deepens | Indian techie allegedly kills wife in US, sends photo of her body to 'secret girlfriend' in India; arrested | 'I fled the city': Thane doctor quits after alleged assault by Shiv Sena leader | Sensex surges 500 points before losing steam, ends marginally higher after volatile trading session | US court drops charges against Indian-origin doctor who drove Tesla off 250-foot cliff with family | Dalal Street bleeds! Sensex tanks over 1,600 points after Trump declares Iran ceasefire 'over'

Gold monetisation scheme liberalized for potential depositors:Finance Ministry

| | Apr 02, 2016, at 08:16 pm
New Delhi, Apr 2 (IBNS) The Union government, which launched the Gold Monetisation Scheme (GMS) on Nov 5, 2015, announced on Thursday that it has modified the scheme on Mar 31 to facilitate monetization of gold by people.
According to the latest modification, for the gold deposited under Medium and Long Term Government Deposits (MLTGD), the redemption of principal at maturity shall, at the option of the depositor, be either in Indian Rupee equivalent of the value of deposited gold at the time of redemption or in gold. 
 
Where the redemption of the deposit is in gold, an administrative charge at a rate of 0.2% of the notional redemption amount in terms of INR shall be collected from the depositor. 
 
However, the interest accrued on MLTGD shall be calculated with reference to the value of gold in terms of Indian Rupees at the time of deposit and will be paid only in cash. 
 
The ministry expects that the above modification will make the scheme more attractive for potential depositors.
#Gold monetisation scheme liberalized # potential depositors # Finance Ministry

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Nirmala Sitharaman presents Budget 2025
Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:41 pm
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador Jun 29, 2024, at 06:38 am
In Images: Glimpses from Bengali film Fatafati's premiere
In Images: Glimpses from Bengali film Fatafati's premiere May 13, 2023, at 08:39 pm
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm