Three gold related scheme has been launched by Prime Minister Narendra Modi viz Sovereign Gold Bond Scheme(SGBS) , Gold Monetization Scheme (GMS), and Indian Gold Coins (IGC).
These ambitious and exclusive schemes were launched to reduce and lower the physical demand for gold and to process 20,000 tonnes of the precious metal lying idle with households and institutions.
Gold Monetisation Scheme (GMS) 2015
GMS 2015 will offer option to all Indian people to deposit their precious and important metal and earn an interest on them and this new scheme will replace the existing Gold Deposit Scheme (GDS) 1999. All inhabitant can invest in this scheme.
Deposit limit: One time Minimum deposit of raw gold in the forms of coins, bars,jewellery excluding stones and other metals is 30 grams with 995 fineness. No maximum deposit limit.
Tenure: Banks will accept gold deposits under the Long (12-15 years) interval, Medium (5-7 years) interval and Short Term of Bank Deposit (STBD) of 1-3 years.
Sovereign Gold Bond Scheme (SGBS) 2015
To reduce the demand for physical gold, this scheme helps to shift the part of Physical gold in form of bars and coins for investment into Demat (Dematerialised) gold bonds. These gold bonds will be payable in terms of grams of gold and are interest bearing.
Tenure of Gold bonds: 8 years is maximum tenure.
Indian Gold Coin 2015
India’s first ever Indian gold coin and bullion to be officially issued by Union Government of India.
These gold coins will bear national emblem Ashok Chakra on one side andon the other side there will be Mahatma Gandhi’s image .
Three Gold Schemes has been launched by Union Government
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