It was launched in 2015 with the objective of mobilizing gold held by households and institutions of the country and facilitating its use for productive purposes, and in long run, reducing the country’s reliance on import of gold.
Features
Eligible depositor can deposit their gold in the Medium & Long Term Government Deposit (MLTGD) Scheme.
The Medium Term Government Deposit (MTGD) can be made for 5-7 years and Long Term Government Deposit (LTGD) for 12-15 Years. The deposit will be accepted by the Bank on behalf of the Central Government.
Interest rate on Medium term deposit is 2.25% p.a. whereas for long term deposit it is 2.50% p.a.
