Gold Deposit Scheme

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....orage, movement and security of gold in their possession, had notified Gold Deposit Scheme 1999 on September 14, 1999. Accordingly, Reserve Bank of India vide circular No IBS 912/23.67.001/99-2000 dated October 5, 1999 had formulated guidelines for Gold Deposit Scheme to enable banks authorized to deal in gold to prepare their own Gold Deposit Schemes. 2. The Central Government (Department of Fin....

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....bscriber of the Scheme after the gold tendered by him has been assayed as specified in para (ii) below and accepted as deposit by the bank. The gold deposit certificate shall be transferable by endorsement and delivery, as hitherto. However, in case of certificates issued in dematerialized form, the depository rules for transfer would apply. (ii) Under para 6 it is stated that there will be a pr....

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....gistered under SEBI (Mutual Fund) Regulations may deposit under the scheme. (iv) Para 12 states that the deposits may be made available within a maturity range from three to seven years. It has now been decided to change the maturity period, of gold deposits, ranging from six months to seven years. (v) Para 22 mandates that details of the scheme designed date from which it will be operational a....

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....___ Sl. No Category of Investors Gold Deposits Total Illustrative Term of Deposits Jewellery Non-Jewellery No. of Depositers Weight 6 mths - 3 years 3-5 years 5-7 years No. of Depositers Weight In grams No. of Depositers Weight in grams (Col.3+5) (Col.4+ 6) Weight in grams of gold received 1 2 3 4 5 6 7 8 9 10 11 1. Brought Forward 2. Additions during month a. I....