Quick Links
Quick Links
UPSC Exams
Latest Update
UP Police Head Operator Result 2025 UPSSSC Junior Assistant Admit Card 2025 Fastag Annual Pass 2025 UGC NET Answer Key June 2025 UGC NET Exam Analysis 2025 UGC NET Question Paper 2025 AP LAWCET Result 2025 UGC NET City Slip 2025 UPSC DAF 1 2025 Rajasthan PTET Answer Key 2025 UPSC Prelims Result 2025 UPSC IFS Result 2025 8th Pay Commission Salary Hike News UPSC 2024 Prelims Answer Key UPSC 2026 Calendar UPSC Admit Card 2025 UPSC Prelims Result Date 2025 UPSC Prelims Answer Key 2025 UPSC Prelims 2025 Expected Cut Off UPSC Prelims Exam Analysis 2025 UPSC Final Result 2025 UPSC Topper Shakti Dubey UPSC Application Rejected List 2025 UPSC Application Date Re-Extended UPSC Interview Date 2024 UPSC Notification 2025 UPSC Admit Card 2025 for Prelims UPSC CSE Prelims 2025 Question Paper UPSC IFS Notification 2025 Indian Navy MR Result 2025 Indian Navy SSR Result 2025
Coaching
UPSC Current Affairs
Syllabus
UPSC Notes
Previous Year Papers
UPSC Mains Previous Year Question Papers Last 25 Years UPSC Prelims Question Papers Last 10 Years UPSC Question Papers UPSC CSE Prelims 2025 Question Paper UPSC Mains 2024 Model Answers UPSC 2024 Question Papers UPSC 2023 Question Papers UPSC 2022 Question Papers UPSC 2021 Question Papers UPSC 2020 Question Papers UPSC 2019 Question Papers UPSC 2018 Question Papers UPSC 2017 Question Papers UPSC 2016 Question Papers UPSC 2015 Question Papers UPSC 2014 Question Papers UPSC CSAT Question Papers UPSC IFS Previous Year Paper UPSC Assistant Labour Commissioner Previous Question Year Papers UPSC Combined Geo Scientist Previous Year Paper UPSC APFC Previous Year Question Papers UPSC CMS Previous Year Question Paper UPSC EPFO Previous Year Paper UPSC Air Safety Officer Previous Year Papers UPSC SO Steno Previous Year Paper UPSC IES ISS Previous Year Question Papers
Mock Tests
UPSC Editorial
Bilateral Ties
Albania India Relations India Algeria Relations Andorra India Relations India Angola Relations India Antigua Barbuda Relations India Argentina Relations Austria India Relations India Azerbaijan Relations Bahamas India Relations India Bahrain Relations Barbados India Relations India Belarus Relations Belgium India Relations Belize India Relations Benin India Relations Bolivia India Relations India Bosnia Herzegovina Relations India Botswana Relations Brazil India Relations Brunei India Relations Bulgaria India Relations Burundi India Relations Cabo Verde India Relations India Cambodia Relations India Cameroon Relations Canada India Relations India Cayman Islands Relations India Central African Republic Relations India Chad Relations Chile India Relations India Colombia Relations India Comoros Relations India Democratic Republic Of The Congo Relations India Republic Of The Congo Relations India Cook Islands Relations India Costa Rica Relations India Ivory Coast Relations India Croatia Relations India Cyprus Relations India Czech Republic Relations India Djibouti Relations India Dominica Relations India Dominican Republic Relations India Ecuador Relations India El Salvador Relations India Equatorial Guinea Relations India Eritrea Relations Estonia India Relations India Ethiopia Relations India Fiji Relations India Finland Relations India Gabon Relations India Gambia Relations India Georgia Relations Germany India Relations India Ghana Relations India Greece Relations India Grenada Relations India Guatemala Relations India Guinea Relations India Guinea Bissau Relations India Guyana Relations India Haiti Relations India Holy See Relations India Honduras Relations India Hong Kong Relations India Hungary Relations India Iceland Relations India Indonesia Relations India Iran Relations India Iraq Relations India Ireland Relations India Jamaica Relations India Kazakhstan Relations India Kenya Relations India Kingdom Of Eswatini Relations India Kiribati Relations India Kuwait Relations India Kyrgyzstan Relations India Laos Relations Latvia India Relations India Lebanon Relations India Lesotho Relations India Liberia Relations Libya India Relations Liechtenstein India Relations India Lithuania Relations India Luxembourg Relations India Macao Relations Madagascar India Relations India Malawi Relations India Mali Relations India Malta Relations India Marshall Islands Relations India Mauritania Relations India Micronesia Relations India Moldova Relations Monaco India Relations India Montenegro Relations India Montserrat Relations India Morocco Relations Mozambique India Relations India Namibia Relations India Nauru Relations Netherlands India Relations India Nicaragua Relations India Niger Relations India Nigeria Relations India Niue Relations India North Macedonia Relations Norway India Relations India Palau Relations India Panama Relations India Papua New Guinea Relations India Paraguay Relations Peru India Relations India Philippines Relations Qatar India Relations India Romania Relations Rwanda India Relations India Saint Kitts And Nevis Relations India Saint Lucia Relations India Saint Vincent And Grenadines Relations India Samoa Relations India Sao Tome And Principe Relations Saudi Arabia India Relations India Senegal Relations Serbia India Relations India Sierra Leone Relations India Singapore Relations India Slovak Republic Relations India Slovenia Relations India Solomon Islands Relations Somalia India Relations India South Sudan Relations India Spain Relations India Sudan Relations Suriname India Relations India Sweden Relations India Syria Relations India Tajikistan Relations Tanzania India Relations India Togo Relations India Tonga Islands Relations India Trinidad And Tobago Relations India Tunisia Relations India Turkmenistan Relations India Turks And Caicos Islands Relations India Tuvalu Relations India Uganda Relations India Ukraine Relations India Uae Relations India Uruguay Relations India Uzbekistan Relations India Vanuatu Relations India Venezuela Relations India British Virgin Islands Relations Yemen India Relations India Zambia Relations India Zimbabwe Relations
Books
Government Schemes
Production Linked Incentive Scheme Integrated Processing Development Scheme Rodtep Scheme Amended Technology Upgradation Fund Scheme Saathi Scheme Uday Scheme Hriday Scheme Samagra Shiksha Scheme India Nishta Scheme Stand Up India Scheme Sahakar Mitra Scheme Mdms Mid Day Meal Scheme Integrated Child Protection Scheme Vatsalya Scheme Operation Green Scheme Nai Roshni Scheme Nutrient Based Subsidy Scheme Kalia Scheme Ayushman Sahakar Scheme Nirvik Scheme Fame India Scheme Kusum Scheme Pm Svanidhi Scheme Pmvvy Scheme Pm Aasha Scheme Pradhan Mantri Mahila Shakti Kendra Scheme Pradhan Mantri Lpg Panjayat Scheme Mplads Scheme Svamitva Scheme Pat Scheme Udan Scheme Ek Bharat Shresth Bharat Scheme National Pension Scheme Ujala Scheme Operation Greens Scheme Gold Monetisation Scheme Family Planning Insurance Scheme Target Olympic Podium Scheme
Topics
NASA Space Missions
NASA Mercury-Redstone 3 (Freedom 7) Mission NASA Mercury-Redstone 4 (Liberty Bell 7) Mission NASA Mercury-Atlas 6 (Friendship 7) Mission NASA Mercury-Atlas 7 (Aurora 7) Mission NASA Mercury-Atlas 8 (Sigma 7) Mission NASA Mercury-Atlas 9 (Faith 7) Mission NASA Gemini 3 Mission NASA Gemini 4 Mission NASA Gemini 5 Mission NASA Gemini 7 Mission NASA Gemini 8 Mission NASA Gemini 9 Mission NASA Gemini 10 Mission NASA Gemini 11 Mission NASA Gemini 12 Mission NASA Apollo 1 (AS‑204) Mission NASA Apollo 7 Mission NASA Apollo 8 Mission NASA Apollo 9 Mission NASA Apollo 10 Mission NASA Apollo 11 Mission NASA Apollo 12 Mission NASA Apollo 13 Mission NASA Apollo 14 Mission NASA Apollo 15 Mission NASA Apollo 16 Mission NASA Apollo 17 Mission NASA Skylab Orbital Workshop Mission NASA Skylab 2 Mission NASA Skylab 3 Mission NASA Skylab 4 Mission NASA Apollo–Soyuz Test Project Mission NASA STS‑1 Columbia Mission NASA STS‑3 Columbia Mission NASA STS‑7 Challenger Mission NASA STS‑8 Challenger Mission NASA STS‑41B Challenger Mission NASA STS‑41G Discovery (1st female EVA) Mission NASA STS‑51L Challenger (accident) Mission NASA STS‑26 Discovery (Return‑to‑Flight) Mission NASA STS‑31 Discovery (Hubble Launch) Mission NASA STS‑49 Endeavour (first capture EVA) Mission NASA STS‑61 Endeavour (Hubble Servicing 1) Mission NASA STS‑73 Columbia (microgravity) Mission NASA STS‑95 Discovery (John Glenn returns) Mission NASA STS‑107 Columbia (accident) Mission NASA STS‑114 Discovery (RTF‑2) Mission NASA STS‑120 Discovery (Node 2) Mission NASA STS‑125 Atlantis (Final Hubble Service) Mission NASA STS‑132 Atlantis Mission NASA STS‑135 Atlantis (Final Shuttle flight) Mission NASA Artemis I (Orion/ SLS‑1) Mission NASA Artemis II (Planned) Mission NASA Artemis III (Planned lunar landing) Mission NASA Mariner 4 Mission NASA Mariner 6 Mission NASA Mariner 7 Mission NASA Mariner 9 Mission NASA Viking 1 Orbiter/Lander Mission NASA Viking 2 Orbiter/Lander Mission NASA Mars Pathfinder & Sojourner Mission NASA Mars Global Surveyor Mission NASA 2001 Mars Odyssey Mission NASA Mars Exploration Rover – Spirit Mission NASA Mars Exploration Rover – Opportunity Mission NASA Mars Reconnaissance Orbiter Mission NASA Phoenix Mars Lander Mission NASA InSight Mars Lander Mission NASA Mars 2020 (Perseverance & Ingenuity) Mission NASA Mars Sample Return – SRL (planned) Mission NASA Pioneer 10 Mission NASA Pioneer 11 Mission NASA Voyager 1 Mission NASA Voyager 2 Mission NASA Galileo Jupiter Orbiter/Probe Mission NASA Cassini–Huygens Mission NASA New Horizons (Pluto & KBO) Mission NASA Juno Mission NASA Europa Clipper (planned) Mission NASA Parker Solar Probe Mission NASA Solar Orbiter (ESA/NASA) Mission NASA Surveyor 1 Mission NASA Lunar Orbiter 1 Mission NASA Lunar Prospector Mission NASA LCROSS Mission NASA LADEE Mission NASA Lunar Reconnaissance Orbiter (LRO) Mission NASA CAPSTONE Mission NASA VIPER Rover (planned) Mission NASA NEAR Shoemaker Mission NASA Deep Space 1 Mission NASA Stardust Mission NASA Genesis Mission NASA Deep Impact Mission NASA Dawn (Vesta/Ceres) Mission NASA OSIRIS‑REx Mission NASA Lucy Mission NASA DART Mission NASA Landsat‑1 (ERTS‑1) Mission NASA Landsat‑5 Mission NASA Landsat‑9 Mission NASA Terra Mission NASA Aqua Mission NASA Aura Mission NASA Suomi NPP Mission NASA Sentinel‑6 Michael Freilich Mission NASA ICESat‑2 Mission NASA GRACE‑FO Mission NASA SMAP Mission NASA GPM Core Observatory Mission NASA CALIPSO Mission NASA CloudSat Mission NASA NISAR (NASA‑ISRO) Mission NASA Explorer 1 Mission NASA COBE Mission NASA Compton Gamma Ray Observatory Mission NASA Hubble Space Telescope Mission NASA Chandra X‑ray Observatory Mission NASA Spitzer Space Telescope Mission NASA WISE Mission NASA Kepler Mission NASA TESS Mission NASA Fermi Gamma‑ray Space Telescope Mission NASA NICER Mission NASA IXPE Mission NASA Roman Space Telescope (planned) Mission NASA NuSTAR Mission NASA GALEX Mission NASA Swift Mission NASA SOHO (ESA/NASA) Mission NASA Cluster II (ESA/NASA) Mission NASA TIMED Mission NASA STEREO‑A/B Mission NASA MMS Mission NASA IRIS Mission NASA Solar Dynamics Observatory Mission NASA X‑37B OTV‑1 (USAF/NASA liaison) Mission NASA X‑59 QueSST Mission NASA Mars Helicopter Ingenuity Mission NASA Valkyrie R5 Robot Mission NASA Low‑Boom Flight Demo Mission NASA CRS‑1 Dragon Mission NASA CRS‑1 Cygnus Mission NASA Crew Dragon Demo‑2 Mission NASA Starliner OFT‑2 Mission NASA STS-2 (Shuttle flight) Mission NASA STS-4 (Shuttle flight) Mission NASA STS-5 (Shuttle flight) Mission NASA STS-6 (Shuttle flight) Mission NASA STS-41C (Shuttle flight) Mission NASA STS-41D (Shuttle flight) Mission NASA STS-51A (Shuttle flight) Mission NASA STS-61C (Shuttle flight) Mission NASA STS-26 (Shuttle flight) Mission NASA STS-27 (Shuttle flight) Mission NASA STS-29 (Shuttle flight) Mission NASA STS-30 (Shuttle flight) Mission NASA STS-32 (Shuttle flight) Mission NASA STS-34 (Shuttle flight) Mission NASA STS-38 (Shuttle flight) Mission NASA STS-45 (Shuttle flight) Mission NASA STS-60 (Shuttle flight) Mission NASA STS-70 (Shuttle flight) Mission NASA STS-71 (Shuttle flight) Mission NASA STS-73 (Shuttle flight) Mission NASA STS-88 (Shuttle flight) Mission NASA STS-92 (Shuttle flight) Mission NASA STS-97 (Shuttle flight) Mission NASA STS-99 (Shuttle flight) Mission NASA STS-100 (Shuttle flight) Mission NASA STS-104 (Shuttle flight) Mission NASA STS-106 (Shuttle flight) Mission NASA STS-110 (Shuttle flight) Mission NASA STS-112 (Shuttle flight) Mission NASA STS-115 (Shuttle flight) Mission NASA STS-116 (Shuttle flight) Mission NASA STS-117 (Shuttle flight) Mission NASA STS-118 (Shuttle flight) Mission NASA STS-120 (Shuttle flight) Mission NASA STS-122 (Shuttle flight) Mission NASA STS-123 (Shuttle flight) Mission NASA STS-126 (Shuttle flight) Mission NASA STS-130 (Shuttle flight) Mission NASA Vanguard 1 Mission NASA Transit 1B Mission NASA Echo 1 Mission NASA Telstar 1 Mission NASA Syncom 3 Mission NASA ATS‑6 Mission NASA Skynet Mission NASA Nimbus‑1 Mission NASA Nimbus‑7 Mission NASA ERS-1 Mission NASA SeaSat Mission NASA QuikSCAT Mission NASA Jason‑1 Mission NASA Jason‑3 Mission NASA ICESat Mission NASA Earth Observing‑1 Mission NASA Orbiting Carbon Observatory‑2 Mission NASA CYGNSS Mission NASA PACE Mission NASA TRMM Mission NASA Terrestrial Planet Finder (cxl) Mission NASA Laser Interferometer Space Antenna (LISA) Mission NASA Explorer 33 Mission NASA Voyager Interstellar Mission Mission NASA Helios‑A Mission NASA Helios‑B Mission NASA ISEE‑3 (ICE) Mission NASA ACE Mission NASA DSCOVR Mission NASA IBEX Mission NASA Solar Orbiter Heliospheric Imager Mission NASA SAGE‑III ISS Mission NASA SPACE Telescope Imaging Spectrograph Mission NASA ARIEL (ESA/NASA) Mission NASA OSAM‑1 (Restore‑L) Mission NASA Dragonfly (Titan rotorcraft) Mission NASA VERITAS (Venus orbiter) Mission NASA DAVINCI (Venus probe) Mission NASA SPHEREx Mission NASA MAGGIE (Mars Geophysical) Mission NASA CLPS – Peregrine Mission NASA CLPS – VIPER Delivery Mission NASA CAPSTONE Mission NASA Gateway (HALO / PPE) Mission NASA Mars Telecommunication Orbiter (cxl) Mission NASA Mars Polar Lander (MPL) Mission NASA Mars Climate Orbiter Mission NASA Pathfinder Mission Mission NASA SLS Block 1B (Exploration Upper Stage) Mission NASA Orion Crew Module Mission NASA Commercial LEO Destinations – Axiom Station Mission NASA ISS Expedition 1 Mission NASA ISS Expedition 70 Mission NASA CRS‑11 (Dragon) Mission NASA CRS‑21 (Dragon 2) Mission NASA Snoopy CubeSat Mission
Home / IAS Preparation / Government Schemes of India / Gold Monetisation Scheme

Gold Monetisation Scheme - Overview, Objectives, Features, Eligibility, Benefits, Challenges & More

Last Updated on Apr 01, 2025
Also Read Gold Monetisation Scheme in Hindi
Download As PDF
IMPORTANT LINKS
Agriculture Notes For UPSC Public Administration UPSC Notes Modern History Books For UPSC Overseas Citizen Of India Caste System & Panchayati Raj Godavari River Federalism In India Indira Point New Development Bank Battle Of Sinhagad Sankalp And Strive Schemes Digital India High Yielding Varieties Economic Growth Development League Of Nations Ease Of Doing Business Mid Day Meal Scheme Wildlife Protection Act 1972 UPSC Notes International Union Conservation Nature

The Government of India launched the Gold Monetisation Scheme in November 2015 to mobilize gold and make its economic utilization easier. In the long run, this might help India lessen its reliance on imported gold. Therefore, this scheme becomes particularly important from the exam point of view as questions on schemes have been asked in both the UPSC Preliminary and Mains Examination.

Source: Ministry of Information and Broadcasting

In this article, we shall discuss the features, benefits, and objectives of the Gold Monetisation Scheme in detail. This will be very useful for aspirants in the UPSC Prelims Exam.

What is Gold Monetisation Scheme?

The Gold Monetization Scheme (GMS) is a Government of India initiative. It aims to mobilize gold held by households and institutions in the country and facilitate its use for productive purposes. The scheme was launched in 2015 and is administered by the Reserve Bank of India (RBI).

Background on the Gold Monetisation Scheme

  • Many forms of gold are kept unused in Indian households.
  • Even if gold’s value increases with time, storing it remains expensive.
  • One can either pay for a bank locker or worry about the security of the item at home when storing stuff.
  • Thus, in 2015, the Indian government introduced the Gold Monetization Scheme (GMS).

Study the Priority Sector Lending Scheme here.

Objectives of the Gold Monetisation Scheme in India

The objectives of the Gold Monetization Scheme (GMS) are:

  • The GMS aims to bring the idle gold lying in Indian homes and institutions into the productive economy. 
  • India is the world's largest importer of gold. The GMS aims to reduce this reliance. It encourages people to deposit their gold with banks and financial institutions instead of selling it.
  • The GMS makes it easy for people to invest in gold, even if they do not have a lot of money. This is because people can deposit their gold in small quantities and earn interest on it.
  • The GMS helps to support the gold and jewellery sectors. It provides banks and financial institutions with a reliable source of gold. This can help to reduce the cost of gold for consumers. It helps promote the growth of the gold and jewellery industries.

Features of Gold Monetisation Scheme

Here are the key features of the Gold Monetisation Scheme:

  • There are two types of deposit options - Short-term deposits for 1 to 3 years and Long-term deposits for 5 to 15 years. This provides flexibility to depositors as per their needs.
  • The gold under the scheme can be deposited in various forms. This includes bars, coins, jewelry, etc., making it more convenient for depositors.
  • The gold deposited is valued at live international prices set by the London Bullion Market Association (LBMA). This ensures fair pricing for depositors.
  • The scheme requires basic KYC documents like Aadhar and PAN cards, along with details of the gold to be deposited. The formalities are kept simple.
  • The deposits under the scheme fetch competitive interest rates. The rates range from 2.5% for short-term to 3% for long-term deposits. The interest income is taxable under income tax.
  • The gold deposited is stored securely in participating banks and refineries to ensure safety.
  • Individuals can avail of loans up to 75% of the value of deposited gold from participating banks.
  • The deposits are liquid in nature. The depositors can withdraw gold after specified lock-in periods for different schemes.

Study about the PM-Kisan Samman Nidhi Yojna here.

Eligibility for the Gold Monetisation Scheme
  • Indian residents are eligible to take part in the Gold Monetisation Scheme. This includes individuals, trusts, and Hindu Undivided Families (HUFs).
  • Non-resident Indians (NRIs) can also take part in some deposit schemes under the Gold Monetisation Scheme.
  • Any individual above 18 years of age can open a Gold Savings Account. There is no upper age limit.
  • NRIs can take part only in Sovereign Gold Bond deposits of 5 to 7-year tenor under the Gold Monetisation Scheme.
  • Along with KYC documents, the depositor needs to submit a PAN card and details of the pledged gold to be deposited under the scheme. The gold can be in the form of bars, coins or jewellery.
  • Trusts and HUFs are also eligible to take part in the Gold Monetisation Scheme.

Gold Monetisation Scheme Benefits 

The major benefits of the Gold Monetisation Scheme are:

  • Individuals can monetize their idle gold holdings through the scheme. They can deposit gold in various accounts and earn interest on it. This unlocks the economic potential of gold.
  • Deposits under the scheme fetch a fixed rate of interest, which is taxable as per income tax rules. 
    • Interest rates vary for different deposit options. 
    • In short-term deposits, the interest rate is around 2.5% p.a., while in long-term deposits, it goes up to 3% p.a.
  • Depositors can avail loans up to 75% of the value of deposited gold.
  • The gold deposited is valued at live international prices set by the London Bullion Market Association (LBMA). This ensures fair pricing for depositors.
  • The deposited gold is stored in high-security vaults of banks and refineries. Depositors can prematurely withdraw gold deposits after a specified lock-in period.
  • The scheme requires minimum KYC documents. Other formalities are kept simple to encourage wider participation.
  • Indexation benefit is available on capital gains from premature withdrawals.

Challenges faced in implementing the Gold Monetisation Scheme

Feelings of attachment:

  • Most household gold holdings have a traditional attachment value.
  • It has religious ritual significance and is regarded as a high standard of prestige.
  •  A legacy concept involves a daughter who is married and the transmission of gold from one generation to the next.

Source of unreported income:

  • If a household does not have purchasing receipts, they should be wary of tax inspections.

Reduced interest rates under the scheme:

  • Because of the low interest rates, investments are not being attracted. There is a maturity time for the schemes. It is thought that gold may be traded and is equivalent to money.

Certification:

  • There aren’t many jewelers in India that offer certifications outside of the major cities.
  • The quality of the gold that depositors already own would be significantly reduced if these refined gold products were to be deposited.

Awareness:

  • Not enough people are aware of the benefits of the scheme as mentioned above so as to attract their attention.
  • The banks do not sufficiently promote the scheme.

What is the difference between a Gold Monetisation Scheme Program and a Sovereign Gold Bond?
  • According to the Gold Monetisation Scheme, citizens can receive tax-free interest by making a one-year bank deposit of at least 30 grams of gold in bullion or jewelry.
  • According to the Sovereign Bond Scheme, rupee-denominated gold bonds in denominations of 5, 10, 50, and 100 grams can be issued.

Study the Mid-Day Meal Scheme here.

Key Highlights of the Gold Monetisation Scheme

Key Facts of the Gold Monetisation Scheme

When was it launched?

November 2015

It is implemented by which ministry?

Ministry of Finance

Who launched the Scheme?

It was launched by the then Minister of Finance, Late Shri Arun Jaitley.

What is the objective of the Scheme?

To mobilize the gold lying idle with the citizens of the country and thus ensure its economic mobilisation.

Conclusion
  • NITI Aayog is looking for suggestions to enhance the effectiveness of this scheme.
  • One suggestion is that the government works with jewelers since they have more faith in the public.
  • Banks and BIS-certified jewelers may both be able to collect gold deposits.
  • Urban residents spend more money on gold. To enhance their interest in the scheme, the plans must be made known to them.
  • Security, liquidity, and capital gains are the three basic justifications for purchasing gold.
  • Policymakers need to address the issues and challenges faced by the scheme, which are mentioned above, so as to better implement the scheme.

Gold Monetisation Scheme (UPSC Government Schemes): Download PDF Here!

Check out the test series for the UPSC IAS Exam here.

We hope that all your doubts regarding the Gold Monetisation Scheme will be cleared after going through this article. You can download the Testbook App now to check out various other topics relevant to the UPSC IAS Exam.

More Articles for IAS Preparation

Gold Monetisation Scheme - FAQs

Gold Monetisation Scheme was launched in 2015.

Ministry of Finance implements the Gold Monetisation Scheme.

The objective is to fully utilize the gold that is laying around in residences and commercial spaces and to lower import costs and India's reliance on foreign gold.

The current limit under this scheme is 10 grams of gold.

Sovereign Gold Bond Scheme is the name of the scheme similar to the Gold Monetisation Scheme.
Report An Error
Exams Tests Super Practice