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Gold deposit scheme News

Gold deposit scheme

26 Nov 2015

Tirupati Balaji Temple to be biggest depositor of PM Modi's Gold Monetisation Scheme?

The Tirumala Tirupati Deveasthanams (TTD) board has reportedly said that it will consider deployment of temple gold in the GMS once the investment panel gives its nod.

Gold deposit scheme

19 Nov 2015

Gold monetisation scheme: Modi govt initiative gets just 400 gm gold so far

A gold deposit scheme launched amid fanfare by Indian Prime Minister Narendra Modi two weeks ago has so far attracted only 400 grams, an industry official said on Thursday, out of a national hoard estimated at 20,000 tonnes.

22 Oct 2015

Banks free to fix interest rates on gold deposit scheme: RBI

As per the guidelines, banks will be free to set interest rate on such deposit, and principal and interest of the deposit will be denominated in gold.

09 Sep 2015

Gold deposit and bond schemes: Key facts you should know

Highlights of the two gold schemes approved at a Cabinet meeting chaired by Prime Minister Narendra Modi.

Gold sovereign bonds

07 Jul 2015

Govt mulls raising Rs 15,000 cr through gold bond scheme

Government is looking at raising Rs 15,000 crore in the current fiscal through the gold bond scheme, for which a cabinet note is likely to be moved for consideration later in the month.

Gold sovereign bonds

19 Jun 2015

'Gold sovereign bonds to address import issues'

Centre's gold sovereign bond scheme is expected to address pure investment demand for the yellow metal, says India Ratings and Research (Ind-Ra).

gold monetisation scheme

22 May 2015

Good interest rate must for success of gold scheme: Nomura

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.

21 May 2015

Now, get tax-free interest on gold deposits

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.

05 May 2015

RBI holds 557.75 tonne gold; 20K tonne held by public: Govt

The Reserve Bank holds 557.75 tonne gold while over 20,000 tonne of the metal is held by the public in the country, Parliament was informed on Tuesday.

05 May 2015

RBI holds 557.75 tonne gold; 20k tonne held by public: Govt

The Reserve Bank holds 557.75 tonne gold while over 20,000 tonne of the metal is held by the public in the country, Parliament was informed on Tuesday.

Gold deposit scheme

01 Mar 2015

Gold deposit scheme can fetch Rs 1 trillion: SBI Research

Describing the proposed gold deposit scheme as "game changer", the SBI's economic research department has said it will help attract at least Rs 1 trillion in deposits on the precious metal.

13 Nov 2014

FinMin holds review meeting, may tighten gold import norms

Worried over surge in gold imports, the government is contemplating to put curbs on inward shipments of the precious metal by big private agencies.

13 Nov 2014

India October gold imports surge to about 150 tonnes: Report

India`s gold imports surged to about 150 tonnes in October, Bloomberg said in a tweet, a volume that could pressure the government to tighten curbs on shipments of the metal.

04 Nov 2014

Re-launch of gold deposit scheme can cut imports by 250 tons

The country's gold imports could come down by 250 tonnes a year if the government re-launches a gold deposit scheme and mobilises at least one per cent of estimated 25,000 tonnes of idle gold stock lying with Indians, according to the gold and silver refiner MMTC Pamp.

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