https://www.taxtmi.com/news?id=15151 The Gold Monetisation Scheme permits resident Indians and specified entities to deposit raw gold at BIS certified Collection and Purity Testing Centres for conversion into tradable refined metal, with banks issuing deposit certificates and accepting Short Term Bank Deposits or Medium and Long Term Government Deposits. The framework sets interest accrual rules, premature withdrawal conditions, CRR/SLR treatment, auctioning of government deposits, authorised sale and lending of deposited gold, risk management and hedging by designated banks, and a two stage grievance redressal through banks and the Banking Ombudsman. en-us Wed, 04 Nov 2015 15:54:12 +0530 Wed, 04 Nov 2015 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15151 The Gold Monetisation Scheme permits resident Indians and specified entities to deposit raw gold at BIS certified Collection and Purity Testing Centres for conversion into tradable refined metal, with banks issuing deposit certificates and accepting Short Term Bank Deposits or Medium and Long Term Government Deposits. The framework sets interest accrual rules, premature withdrawal conditions, CRR/SLR treatment, auctioning of government deposits, authorised sale and lending of deposited gold, risk management and hedging by designated banks, and a two stage grievance redressal through banks and the Banking Ombudsman. News - Wed, 04 Nov 2015 15:54:12 +0530 https://www.taxtmi.com/news?id=15151