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Gold Deposits News

14 Feb 2022

Sebi comes out with operating guidelines for depositories, vault managers

This is the minimum amount that has to be maintained with the depository at all points of time. The settlement of claims will be done by the depositories on a pro-rata basis. The reconciliation should be done at the end of the day on a daily basis.

07 May 2016

8 temples deposit gold under gold monetisation scheme

Coming forth and supporting government's gold monetisation scheme, eight temples of the country have donated gold deposits under the scheme, the most coming from Tamil Nadu.

gold monetisation scheme

01 Apr 2016

Govt tweaks gold monetisation scheme

To make the gold monetisation scheme more attractive, the government has allowed investors to redeem the deposits in gold also

23 Jan 2016

Modi govt mobilises 900 kgs of gold under monetisation scheme

The Gold Monetisation Scheme, which had not picked up initially, was fine-tuned to make it more attractive and convenient to encourage entities holding idle gold to participate in the scheme.

gold monetisation scheme

10 Sep 2015

Gold monetisation scheme: 2% interest likely on gold deposits

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.

22 Aug 2015

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

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.

10 Aug 2015

Government drops plan to use gold deposits as part of CRR, SLR

The government has dropped plans to utilise gold mobilised under the proposed monetisation scheme for meeting mandatory liquidity requirements for banks, as it wants to avoid another confrontation with RBI.

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.

28 Jun 2014

SBI, BoB seek treatment of gold deposits as part of CRR/SLR

The country's two biggest state-run lenders Saturday pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.

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