<h1>Gold Monetisation Scheme Update: Eased Rules for Redemption, Licensing, and Deposits to Boost Participation.</h1> The Gold Monetisation Scheme, launched on November 5, 2015, has been updated to enhance customer participation. Key changes include allowing premature redemption of Medium and Long Term Government Deposits after 3 and 5 years, respectively, with reduced interest. Banks will receive a 2.5% commission covering service fees. Gold depositors can now directly approach refiners, and the Bureau of Indian Standards has eased licensing for refiners. Licensed jewellers can apply to act as Collection and Purity Testing Centres. The scheme now allows deposits of any gold purity, with banks able to hedge short-term deposits. Tax exemptions remain for interest and capital gains. As of January 20, 2016, 900.087 kilograms of gold have been mobilized.