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.

Banks' aversion to higher interest may hurt India plan to draw out gold stocks

Last Updated: Saturday, August 22, 2015, 14:55

Indian lenders do not want to raise interest on gold deposits much beyond 1 percent, bankers said, which could derail a government plan to cut massive imports by mobilising tonnes of gold now stored in households and temples.

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.

Rise in real interest rate to boost bank deposits: DeutscheBank

Last Updated: Monday, April 29, 2013, 18:34

Real interest rate is likely to rise in the current year due to the falling inflation and steep correction in gold prices, prompting investors to park money in bank deposits, says a report by Deutsche Bank.

Low interest rates may be good for gold: Barron's

Last Updated: Monday, January 30, 2012, 12:37

With near-zero interest rates likely to persist for two more years, some investors are bullish on gold and high-yielding stocks, while shares of some solid companies out of favor with the market are still relatively cheap, Barron's reported Sunday.