gold monetisation scheme

gold monetisation scheme News

Utilising idle gold with households: Government schemes fail to glitter

Various govt initiatives, aimed at fishing out yellow metal lying idle with households, have failed to achieve the desired results. The 22 tonnes mobilised under SGB scheme in last 3 years translates to just about 1% of India's physical demand in that period.

Gold monetisation scheme yields 3 tonnes, govt may tweak it further to lure investors

“In the long term the gold monetisation scheme should succeed. We reviewed the difficulties in the gold monetisation scheme and took suggestion and now they are under consideration,” Das said after the meeting.

Advertising

Need to fine-tune Gold Monetisation Scheme: RBI governor Rajan

The scheme, which was launched by Prime Minister Narendra Modi earlier this month, garnered only 400 grams of physical gold of the over 20,000 tonnes worth gold lying idle in the country.

Banks free to fix interest rates: RBI

The minimum deposit at any one time shall be raw gold — bars, coins, jewellery excluding stones and other metals — equivalent to 30 grams of gold of 995 fineness.

FinMin finalising gold monetisation scheme

Sources said finance ministry is in talks with the RBI to finalise modalities of the scheme under which banks would also be permitted to deposit the gold as part of their CRR and SLR requirements.

Gold Monetisation Scheme: A 24-carat question, Interest Rates

Experts say that rates have to be attractive enough for citizens and institutions to take interest in the scheme.

Advertising
Advertising