Gold Related Schemes in India

Prime Minister Narendar Modi recently launched three gold – related schemes, namely the Gold Monetization Scheme, Sovereign Gold Bond Scheme and the Gold Coin and Bullion Scheme.

Some important provisions of the Gold Monetization Scheme and Sovereign Gold Bond Schemes are:
Particulars Gold Monetization Scheme Sovereign Gold Bond Scheme
History Replacement of existing GDS New Investment option introduced by Government of India
Who can invest Residents Indians, Trusts including Mutual Funds/Exchange Universities/Charitable Traded Funds registered under institutions SEBI (Mutual Fund) Regulations and Companies Resident Indians, Trusts
Investment Process The Gold ornaments are melted and purity is assessed. Certificates issued to the investor is used to open the Gold Saving Account Purchase Gold Bonds instead of physical gold. Gold could be held in paper format or demat form
Minimum Investment 30 grams of raw gold (bars, coins, jewellery) 2 units (i.e. 2 grams of gold)
Maximum Investment No maximum limit 500 grams per person per fiscal year
Minimum Tenure 1 year 8 years, with an exit option from the 5th year
Types of Deposits Short Term Bank Deposits
(1 – 3 years)
Medium (5 – 7 years )
And
Long (12 – 15 years)
Government Deposit Schemes
No Classification of the bonds

Under the Gold Coin and Bullion Scheme, the government will issue gold coins, the first ever national gold coins, which will have the Ashok Chakra engraved on them.


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