Components of Gold Monetisation Scheme Discontinued
On 25th March 2025, the Union Finance Ministry announced the discontinuation of the medium and long term government deposit (MLTGD) components of the Gold Monetisation Scheme (GMS), effective from 26th March 2025.
- This decision comes after a comprehensive review of the scheme’s performance and evolving market conditions.
- Launched in 2015, GMS aimed to reduce the country’s dependency on gold imports and mobilise the vast gold holdings of households and institutions for productive use.
Key Points
- Only short-term deposits managed by banks will continue.
- From 26 March 2025, no new deposits to be accepted at collection centres, testing agents, or designated bank branches.
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