March 25, 2025 10:33 PM

Centre discontinues Gold Monetisation Scheme; short-term deposits to continue

The government on Tuesday announced the discontinuation of the Medium-Term and Long-Term Government Deposit (MLTGD) components of the Gold Monetisation Scheme (GMS), effective from March 26, 2025. The Ministry of Finance said in a statement that banks may continue offering Short-Term Gold Deposits (1-3 years) under the scheme. About 31,164 kilograms of gold have been mobilised under the GMS as of November 2024. “Based on the examination of the performance of the Gold Monetisation Scheme (GM...