Gold Monetisation Scheme

Government clears two gold schemes

The government plans to exempt capital gains made at the time of redemption of gold under the Gold Bond Scheme.

  1. Two schemes are the Sovereign Gold Bond Scheme and the Gold Monetisation Scheme.
  2. It could bring an estimated 20,000 tonnes of idle gold lying with Indian consumers into the economy and also reduce India’s dependence on gold imports.
  3. In Gold Monetisation Scheme, gold in any form can be deposited with banks for a period of one to 15 years. This gold will earn interest and redemption will be at the prevailing market value at the end of the tenure of deposit.
  4. Sovereign Gold Bond Scheme is aimed at customers looking to buy gold as an investment.
  5. While the gold deposited with banks under the monetisation scheme will be allowed to be sold to jewellers in order to boost domestic supply.

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