Indian Government Gold Related Schemes,Gold Coins,Interest Rates,Benefits and Website Address Details
The primary purpose of the schemes is to reduce dependence on imported gold, recycle the unutilized gold in the country and most importantly, streamline the gold business in the country. At present, India is the largest consumer of gold in the world.
Gold Monetization Scheme (GMS)
Its objective is to mobilize unutilized gold from individuals, households and institutions and make them available to gold-base industries including jewellers. Resident Indians to deposit their Gold and earn an interest of upto 2.5 percent per annum.
Sovereign Gold Bond Scheme
The purpose of the scheme is to reduce the demand for physical gold and to shift part of the estimated 300 tons of physical bars and coins purchased every year for investment into Demat (Dematerialised) gold bonds.An Investors can Earn an Interest rate of 2.75 percent per annum by buying paper bonds.
Indian Gold Coins
• Its purpose is to revive investment and reduce dependence on imports of gold coins. At present, India has been importing about 60 tonnes of gold coins annually that are sold at a premium of 8-10 per cent.
• Under the scheme, gold coins bearing the Ashok Chakra will be minted by the Security Printing and Minting Corporation of India.
• Initially, the coins will be available in denominations of 5 gm and 10 gm.
• They will be sold through banks, post offices and state-run MMTC Ltd. (Metals and Minerals Trading Corporation of India) which will sell them through the World Gold Council (WGC).
Gold Monetization Scheme (GMS)Interest Rates,Sovereign Gold Bond Scheme Interest Rates,Indian Gold Coins Details and Rates,Indian Gold Coins selling agencies,Indian Gold Coins selling banks,Details of Gold paper bonds