INSUBCONTINENT EXCLUSIVE:
Mumbai: The Reserve Bank of India (RBI) Wednesday made some changes in Gold Monetisation Scheme (GMS) by including charitable institutions
and central government, among other.
Apart from individual and joint depositors, scheme could now be availed by charitable institutions,
central government, state government or any other entity owned by central government or state government, RBI said in a notification.
In
2015, government launched GMS to mobilise gold held by households and institutions in country.
The scheme allows banks' customers to deposit
their idle gold holdings for a fixed period in return for interest in range of 2.25-2.50 per cent.
