Gold monetisation scheme: 2% interest likely on gold deposits

Last Updated: Thursday, September 10, 2015, 20:24

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.

Govt approves Gold Bond, Gold Monetisation schemes

Last Updated: Wednesday, September 9, 2015, 21:33

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.

India lures gold investors with govt bond, monetisation plan

Last Updated: Wednesday, September 9, 2015, 16:50

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.

India unveils two gold schemes for deposits, sovereign bonds

Last Updated: Wednesday, September 9, 2015, 14:23

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.

Now, get tax-free interest on gold deposits

Last Updated: Wednesday, September 9, 2015, 13:18

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.

FinMin moves Cabinet note on gold monetisation scheme

Last Updated: Tuesday, August 4, 2015, 19:01

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.

Gold jewellery export may rise to $40 billion if quality improved

Last Updated: Thursday, July 30, 2015, 20:33

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.

Cabinet to take up Gold Monetisation Scheme in few weeks

Last Updated: Wednesday, July 22, 2015, 15:22

The scheme proposes to offer tax-free interest to individual on depositing the yellow metal with banks.

Muthoot Fincorp plans gold recycling centres across country

Last Updated: Sunday, May 24, 2015, 12:16

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.

Good interest rate must for success of gold scheme: Nomura

Last Updated: Friday, May 22, 2015, 18:59

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.

Now, get tax-free interest on gold deposits

Last Updated: Wednesday, May 20, 2015, 14:32

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.

Banks may get nod to use gold deposits for meeting CRR, SLR

Last Updated: Tuesday, May 19, 2015, 19:20

The government is considering allowing banks to utilise gold mobilised under the monetisation scheme for meeting mandatory liquidity requirements set by the Reserve Bank.