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Gold Monetization Schemes (GMS)

On September 15, 2015 the Union Cabinet gave its approval for introduction of Gold Monetization Schemes (GMS), as announced in the Union Budget 2015-16. The new scheme consists of the revamped Gold Deposit Scheme (GDS) and a revamped Gold Metal Loan (GML) Scheme. The scheme will help in mobilizing the large amount of gold lying as an idle asset with households, trusts and various institutions in India and will provide a fillip to the gems and jewellery sector.

Detailed guidelines of the Gold Monetization Scheme can be accessed through the following link: