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of <h1>Gold Deposit Scheme Amended: Mutual Funds and ETFs Can Now Deposit Gold; New Rules for Gold Certificates Defined</h1> The Central Government amended the Gold Deposit Scheme, 1999, to enhance its attractiveness and utility. The amendments allow Mutual Funds and Exchange Traded Funds registered under SEBI regulations to deposit gold. Key changes include defining a 'Gold Certificate' as a receipt issued after gold is assayed and accepted by a designated bank, allowing all designated banks to operate the scheme, and specifying procedures for gold subscription. Subscribers can opt for a Gold Certificate, Statement of Account, or Passbook. Gold Certificates are transferable by endorsement and delivery, with depository rules applicable for dematerialized forms.
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