Sai Jai
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Prime Minister Narendra Modi on
Thursday launched three gold-related
schemes, including a coin engraved
with the images of national emblem
Ashok Chakra and Mahatma Gandhi on
its two sides, in a bid to put some
20,000 tonnes of idle gold into
productive use.
The other two were a gold
monetisation scheme to convert
jewellery and other yellow metal
assets into interest-bearing deposits,
and a sovereign bond scheme with an
eight-year tenure, while allowing an
exit option after five years.
The interest rates
The monetisation scheme will offer
option to resident Indians to deposit
their precious metal and earn an
interest of up to 2.5 per cent; while
under the Sovereign Gold Bonds
Scheme, investors can earn an interest
rate of 2.75 per cent per annum by
buying paper bonds.
Initially the coins will be available in
denominations of 5 grams and 10
grams. Read more @: PM launches three gold-related schemes: The Hindu - Mobile edition
Thursday launched three gold-related
schemes, including a coin engraved
with the images of national emblem
Ashok Chakra and Mahatma Gandhi on
its two sides, in a bid to put some
20,000 tonnes of idle gold into
productive use.
The other two were a gold
monetisation scheme to convert
jewellery and other yellow metal
assets into interest-bearing deposits,
and a sovereign bond scheme with an
eight-year tenure, while allowing an
exit option after five years.
The interest rates
The monetisation scheme will offer
option to resident Indians to deposit
their precious metal and earn an
interest of up to 2.5 per cent; while
under the Sovereign Gold Bonds
Scheme, investors can earn an interest
rate of 2.75 per cent per annum by
buying paper bonds.
Initially the coins will be available in
denominations of 5 grams and 10
grams. Read more @: PM launches three gold-related schemes: The Hindu - Mobile edition
