Friday, April 8, 2016

Gold Monetisation Scheme, 2015- Modification



In case of MLTGD, the redemption of principal at maturity, shall be either in the rupee equivalent of the value of deposited gold at the time of redemption, or in gold. The option will be with the depositor.

Where the redemption is in gold, an administrative charge @ 0.2% of the notional redemption amount shall be charged. However, the interest accrued shall be calculated with reference to the value of gold at the time of deposit and will be paid only in cash.
Based on RBI Circular dt 31/03/16. Please visit www.rbi.org.in for any further clarification if required….. Poppy