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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Gold Monetization Scheme to be partially closed, but you can still invest: Here’s how
Medium-Term Government Deposit (MTGD) and Long-Term Government Deposit (LTGD) components of the Gold Monetization Scheme (GMS), effective March 26, 2025, as per an Reserve Bank of India (RBI) press release as on March 25, 2025.
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This means that after March 25, 2025, individuals and entities will no longer be able to deposit gold under these categories. This means that any gold brought to a Collection and Purity Testing Centre (CPTC), a GMS Mobilization, Collection & Testing Agent (GMCTA), or a designated bank branch for MTGD or LTGD after this date will not be accepted.
Sovereign Gold Bond 2025: RBI announces SGB premature redemption dates from April – September 2025; Check details
According to the RBI press release, “Government of India, vide its press release ID 2115009 dated March 25, 2025 regarding Gold Monetization Scheme (GMS) has decided to discontinue the Medium Term and Long Term Government Deposit (MLTGD) components of GMS with effect from March 26, 2025.”
What is the Gold Monetization Scheme (GMS)?
According to the Bank of Baroda website, “The Gold Monetization Scheme allows gold depositors to earn interest on their bank deposit accounts. When gold is deposited into an account, it begins earning interest. Gold can be in any form, such as bullion or jewellery.”
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The minimum deposit at any one time is 10 grams of raw gold (bars, coins, jewellery excluding stones and other metals) and there is no
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