Gold Monetisation Scheme

Gold Monetization Scheme is intended to mobilise the idle gold with households, institutions, corporates & temple trusts of the country and facilitate its use for productive purposes. In the long run, the goal is to reduce country's reliance on the import of gold. Resident Indians can deposit gold under Gold Monetisation Scheme. The deposit will be denominated in grams of gold with purity 995. The deposit will help the depositor earn interest at the rate of interest decided by Central Government and notified by Reserve Bank of India from time to time.