https://www.taxtmi.com/notifications?id=118768 The Gold Monetisation Scheme links a Revamped Gold Deposit Scheme and Revamped Gold Metal Loan Scheme, permitting designated banks to open Gold Deposit Accounts in grams, accept bullion or jewellery after KYC and purity testing, and engage certified testing centres and licensed refiners. Deposits are available for distinct tenures with tenure-specific redemption and interest rules-short-term interest in gold grams set by banks; medium and long-term interest and bank fees set by the government and paid in rupees. Mobilised gold may be auctioned, credited to central bank reserves, used for coin minting, or lent to jewellers; prior tax exemptions apply and a Gold Reserve Fund captures the interest-borrowing spread. en-us Wed, 03 Feb 2016 00:00:00 +0530 Tue, 09 Feb 2016 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=118768 The Gold Monetisation Scheme links a Revamped Gold Deposit Scheme and Revamped Gold Metal Loan Scheme, permitting designated banks to open Gold Deposit Accounts in grams, accept bullion or jewellery after KYC and purity testing, and engage certified testing centres and licensed refiners. Deposits are available for distinct tenures with tenure-specific redemption and interest rules-short-term interest in gold grams set by banks; medium and long-term interest and bank fees set by the government and paid in rupees. Mobilised gold may be auctioned, credited to central bank reserves, used for coin minting, or lent to jewellers; prior tax exemptions apply and a Gold Reserve Fund captures the interest-borrowing spread. Notifications Indian Laws Wed, 03 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/notifications?id=118768