Banks free to fix interest rates on gold deposit scheme: RBI
As per the guidelines, banks will be free to set interest rate on such deposit, and principal and interest of the deposit will be denominated in gold.
Oct 22, 2015, 22:41 PM IST
GDP to grow more than 7.5% ; Gold scheme to launch in Nov: Economic Affairs Secretary
The country is likely to witness robust GDP growth of more than 7.5%, and a gold scheme, wherein households, trusts, temples and others will be able to earn interest on their idle gold, will be launched in November, said Economic Affairs Secretary Shaktikanta Das
Oct 05, 2015, 13:39 PM IST
Twin gold schemes: FinMin gives details, RBI to decide rates
The government Wednesday came out with details of the twin gold schemes aimed at reducing the demand for physical gold and said that interest rate on the schemes would be decided in consultation with the RBI.
Sep 16, 2015, 22:13 PM IST
Gold monetisation scheme: 2% interest likely on gold deposits
The government is gearing up to launch the gold monetisation scheme around Diwali with an interest rate of 1.5-2 percent on gold deposits, said a senior finance ministry official.
Sep 10, 2015, 20:24 PM IST
Govt approves Gold Bond, Gold Monetisation schemes
Through the Gold Monetisation Scheme, gold in any form can be deposited with banks for a period of one to 15 years that will earn interest while redemption will be at the prevailing value at the end of the tenure.
Sep 09, 2015, 21:33 PM IST
India lures gold investors with govt bond, monetisation plan
India will soon launch a sovereign gold bond and a scheme to mobilise tonnes of the metal stored in households, the finance minister said, a move that mainly seeks to wean investors away from physical gold and cut massive imports.
Sep 09, 2015, 16:50 PM IST
India unveils two gold schemes for deposits, sovereign bonds
In a bid to tap the vast amount of idle gold with people and put it to productive use, two schemes were on Wednesday unveiled by the Indian government -- one on physical deposit of the metal against its rupee value on paper and the other for issuing sovereign bonds.
Sep 09, 2015, 14:23 PM IST
Now, get tax-free interest on gold deposits
The Cabinet on Wednesday approved the gold monetisation scheme, which proposes to offer tax-free interest to individuals on depositing the yellow metal with banks.
Sep 09, 2015, 13:18 PM IST
FinMin moves Cabinet note on gold monetisation scheme
The Finance Ministry has moved a Cabinet note on the proposed gold monetisation scheme that will enable depositors to earn interest on their on their gold accounts.
Aug 04, 2015, 19:01 PM IST
Gold jewellery export may rise to $40 billion if quality improved
Gold jewellery exports could jump five-fold to USD 40 billion in the next five years if quality standards are improved, the World Gold Council said Thursday.
Jul 30, 2015, 20:33 PM IST
Cabinet to take up Gold Monetisation Scheme in few weeks
The scheme proposes to offer tax-free interest to individual on depositing the yellow metal with banks.
Jul 22, 2015, 15:22 PM IST
Muthoot Fincorp plans gold recycling centres across country
Muthoot will be approaching the government seeking permission for private players to do hallmarking and recycling as the 350 BIS-authorised hallmarking centres cannot take the load if the scheme becomes a success.
May 24, 2015, 12:16 PM IST
Good interest rate must for success of gold scheme: Nomura
At present, banks are offering an interest of up to 1 percent on gold deposits and the same needs to be "much higher" for the new scheme to succeed.
May 22, 2015, 18:59 PM IST
Now, get tax-free interest on gold deposits
The draft gold monetisation scheme also provides for incentives to the banks, while individuals and institutions can deposit as low as 30 gms of gold, while the interest earned on it would be exempt from income tax as well as capital gains tax.
May 20, 2015, 14:32 PM IST
Banks may get nod to use gold deposits for meeting CRR, SLR
The government is considering allowing banks to utilise gold mobilised under the monetisation scheme for meeting mandatory liquidity requirements set by the Reserve Bank.
May 19, 2015, 19:20 PM IST
Gold monetisation scheme: Interest on deposits to be tax-exempt
Seeking to mobilise gold held by households and institutions, government on Tuesday came out with a draft scheme under which a person or entity can earn interest by depositing the metal with banks.
May 19, 2015, 15:10 PM IST
Gold monetisation scheme: One can deposit as low as 30 grams
The government on Tuesday released draft guidelines on gold monetisation scheme to mobilise the gold held by households and institutions.
May 19, 2015, 14:48 PM IST
