<h1>Government to End Gold Monetisation Scheme by March 2025; Banks to Offer Short-Term Deposits Only</h1> The government will discontinue the Gold Monetisation Scheme (GMS) from March 26, 2025, due to changing market conditions, while banks can still offer short-term gold deposit schemes. Since its inception in 2015, GMS aimed to reduce gold imports and mobilize domestic gold for productive use, mobilizing 31,164 kilograms by November 2024. The Medium and Long Term Government Deposit components will cease, but existing deposits will continue until maturity. Gold prices have risen significantly, impacting the scheme's viability. The Reserve Bank will provide further guidelines for banks continuing short-term deposits.