https://www.taxtmi.com/news?id=14515 The draft Gold Monetization Scheme mobilizes household and institutional gold via certified Purity Testing Centres and accredited refiners, enabling depositors to open Gold Savings Accounts in banks with gold denominated principal and interest. Purity Testing Centres perform XRF and, with consent, fire assays and issue certificates; deposited gold is transferred to refiners or bank vaults. Mobilized gold may be used for CRR/SLR consideration, foreign exchange sales, coin minting, exchange trading, or metal loans to jewellers. Banks, refiners and testing centres will enter tripartite MoUs setting fees, services and standards. en-us Wed, 20 May 2015 12:05:13 +0530 Wed, 11 Feb 2026 15:56:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14515 The draft Gold Monetization Scheme mobilizes household and institutional gold via certified Purity Testing Centres and accredited refiners, enabling depositors to open Gold Savings Accounts in banks with gold denominated principal and interest. Purity Testing Centres perform XRF and, with consent, fire assays and issue certificates; deposited gold is transferred to refiners or bank vaults. Mobilized gold may be used for CRR/SLR consideration, foreign exchange sales, coin minting, exchange trading, or metal loans to jewellers. Banks, refiners and testing centres will enter tripartite MoUs setting fees, services and standards. News - Wed, 20 May 2015 12:05:13 +0530 https://www.taxtmi.com/news?id=14515