Gold investment schemes: THESE are BEST options to consider in India-- Here's everything about these plans

India's gold demand had risen to pre-pandemic levels and reached 191.7 tonnes in the July–September quarter of FY 2022–23, an increase of 14 percent annually, primarily due to high consumer interest. India's demand for actual gold is evident from the aforementioned facts. The government has introduced several programmes for investors who seek to make returns through gold in order to deter gold imports and reduce the trade imbalance. Continue reading to know about such programmes.

The program's goal is to mobilise the gold that domestic institutions and households retain, make it easier for them to use it for productive purposes, and eventually lessen the country's dependency on gold imports. The banks determine the amount of interest rate payable for deposits made for the short-term period based on the current international lease rates, other costs, market conditions, etc. The banks are responsible for paying the interest rate.

The government chooses the interest rate for medium- and long-term deposits after periodically consulting with the RBI, and the cost is borne by the government.

Government securities called SGBs are valued in kilos of gold. They serve as alternatives to holding actual gold. The issuance price for investors must be paid in cash, and the bonds must be redeemed in cash when they reach maturity.

The Reserve Bank issuing the bond on behalf of the Government of India. Under the Gold Monetization Scheme, the Sovereign Gold Bond Scheme was introduced in November 2015.

The Indian gold coins are offered in 5, 10, and 20 gramme weights. The Indian Gold Coin and Bullion is exceptional in many ways, and it comes with cutting-edge anti-counterfeit technology and tamper-evident packaging. All Indian gold coins and bullion are 24 carat pure, and they are all hallmarked in accordance with BIS requirements.

The bank opens a Gold Metal Loan account for jewellers that is valued in kilos of gold. According to the terms and circumstances outlined by banks, with the help of RBI, the gold mobilised through the redesigned GDS's short-term option is given to jewellers on loan.