Live
- Gurinder Chadha all set to make a comeback to big screen
- Palle Sindhura Reddy flays YS Jagan during election campaign in Puttaparthi
- KK Raju files nomination amid public celebrations and predicts victory with 45k vote majority
- Vijayawada Central Candidate Vellampally Srinivas Campaigns in 28th Division Railway Colony
- DCA busts three quack clinics in Hyd, Jangaon and Mahabubnagar
- Man threatens to jump into lake if he doesn’t get divorced from his wife
- Vikram’s ‘Veera Dheera Sooran’ teaser: Laden with mass elements
- Tamil Nadu records 40.05 pc voting till 1 pm
- Sithara Entertainments announces ‘MAD Square;’ pooja ceremony held
- Google Unifies Hardware and Software Teams for Advanced AI Development
Let your gold earn interest for you
While presenting the General Budget 2015-16 in the Lok Sabha, Finance Minister Arun Jaitley announced several steps for monetizing gold. He has said stocks of gold in India are estimated to be over 20,000 tonnes but mostly this gold is neither traded, nor monetized. Jaitley proposed to introduce Gold Monetisation Scheme, which will replace both the present Gold Deposit and Gold Metal Loan Schemes.
New Delhi: While presenting the General Budget 2015-16 in the Lok Sabha, Finance Minister Arun Jaitley announced several steps for monetizing gold. He has said stocks of gold in India are estimated to be over 20,000 tonnes but mostly this gold is neither traded, nor monetized. Jaitley proposed to introduce Gold Monetisation Scheme, which will replace both the present Gold Deposit and Gold Metal Loan Schemes.
The Finance Minister also announced the development of an alternate financial asset, a Sovereign Gold Bond, as an alternative to purchasing metal gold. The bonds will carry a fixed rate of interest, and also be redeemable in case in terms of the face value of the gold, at the time of redemption by the holder of the Bond. Jaitley has also announced that the government shall commence work on developing an Indian Gold Coin, which will carry the Ashok Chakra.
