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Modifications in the Gold Monetisation Scheme

News and Press Release - Dated:- 25-1-2016 - Government had launched the Gold Monetisation Scheme (GMS) on 5th November, 2015. Thereafter a number of suggestions have been received to make the scheme easier for the customers to participate. According .....

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redemption under Medium and Long Term Government Deposits (MLTGD) Any Medium Term Deposit will be allowed to be withdrawn after 3 years and any Long Term Deposit after 5 years. These will be subject to a reduction in the interest payable. 2). Fees t .....

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de the charges payable to the Collection and Purity Testing Centres/Refiners. 3). Gold depositors can also give their gold directly to the refiner rather than only through the Collection and Purity Testing Centres (CPTCs). This will encourage the bul .....

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itation from the existing three years refining experience to one year refining experience. This is likely to increase the number of licensed refiners. 5) BIS has published an Expression of Interest (EOI) on its website inviting applications from the .....

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mer better value for the gold deposited. 7). Gold to be deposited with the CPTCs/Refineries can be of any purity. The CPTC/Refiner will test the gold and determine its purity which will be basis on which the deposit certificate will be issued. 8). Ba .....

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the list of the BIS licensed CPTCs and refiners to the banks.To increase awareness among depositors, Government had continued the Media campaign in AIR and FM radio. Print media and Mobile SMS campaign is also being undertaken.Government has also la .....

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