GOLD MONETISATION SCHEME
New scheme in works to support domestic critical mineral processing plants: Mines Secretary
India is launching a new scheme to boost critical mineral processing. Public sector companies will bid for four copper mines in Chile. Domestic copper production is set to increase significantly. Plans are also underway to extract gold from mining residue. These initiatives aim to strengthen India's mineral sector and global presence.
Indian household gold higher than gold reserves of world's top 10 central banks: Assocham
India’s households now hold more gold than the top 10 central banks combined, with estimates ranging from $2.4 trillion to $10 trillion. Assocham says this vast, largely idle wealth could be a major economic catalyst if channelled into formal systems through monetisation, gold-backed lending and financialisation
India’s household gold holdings now much larger than combined gold reserves of top 10 central banks: ASSOCHAM
India's household gold holdings are now the world's largest, surpassing central bank reserves. ASSOCHAM says that channeling even a small portion into financial assets could add trillions to India's GDP by 2047. This move would strengthen manufacturing, infrastructure and agriculture, boosting the economy through increased consumption and job creation.
Reducing import dependence through refining and recycling the way to navigate India Gold sector: Report
India's gold industry is shifting focus from buying to investing. The nation aims to reduce its reliance on imported gold by boosting local refining and recycling efforts. Plans are underway to make India a global center for gold refining and trading. These changes will position India for a greater role in worldwide gold markets.
HDFC Gold ETF to invest in gold derivatives in rare circumstances
HDFC Mutual Fund said its HDFC Gold ETF will use Exchange Traded Commodity Derivatives only during temporary shortages of physical gold. The fund, aligned with SEBI rules, will retain its core focus on physical gold while adding flexibility to invest in GDS, GMS and ETCDs within defined limits.
$5 trillion gold lying with Indian households: Kotak explains macro downside of Midas touch
Indian households now own gold worth nearly $5 trillion, a scale that Kotak Institutional Equities warns could distort savings patterns and weaken financial intermediation. As more wealth shifts to bullion over bank deposits, Reserve Bank of India may face tighter liquidity and added pressure on India’s external balances.
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Sebi gold pricing shift: A step toward India-led price discovery
In a groundbreaking shift, mutual funds will now price gold and silver according to Indian exchange rates, stepping away from the traditional London benchmarks. This move boosts both transparency and precision for investors, signaling India's rising presence in the global gold market.
Going through a divorce after 20-30 years of marriage? A financial survival guide for women in their 40s and 50s
From securing alimony to reskilling, here’s what women in their 40s or 50s need to do before walking out of a long marriage.
Banks may get to hedge gold price risks abroad
The Reserve Bank of India is proposing new rules for banks. These changes will allow banks to manage gold price risks in foreign markets. Authorized dealers can also conduct rupee-based derivative contracts with overseas entities. This aims to improve price discovery and give banks more operational freedom. The move is expected to deepen the market.
Reserve Bank proposes easing foreign exchange transaction norms
The Reserve Bank of India has proposed new rules for foreign exchange dealings. Authorised persons will get more flexibility in hedging exposures, managing balance sheets, and market-making. Reporting obligations will also be eased. These draft directions aim to provide greater freedom in dealing with foreign exchange products.
Revamped Gold Scheme: Minimum deposit cut to 10 gm, jewellers roped in
Mobilising most of the idle gold from Indian households will help the country reduce dependence on import of gold and address the issue of current account deficit.
Government mobilises 3.1 tonnes of gold under monetisation scheme
This is much lower than 800-1,000 tonnes of annual gold import, he said, adding that estimates say 300 tonnes are for investments, while the balance is jewellery.
Banks still dragging their feet on Gold Monetisation Scheme
In the earlier gold deposit scheme, the government mint took 180 days to settle their refining account but with 0.5% interest payout at that time.
Government mobilises 900 kg of gold under monetisation scheme
The Gold Monetisation Scheme was fine-tuned to make it more attractive and convenient to encourage entities holding idle gold to participate in the scheme.
For gold monetisation scheme to work don’t ask people for source: Traders to government
Dealers want the government to simplify the gold monetisation scheme through measures such as not pressing people to declare the source of the gold.
Gold Monetisation Scheme purely voluntary: FinMin
The Gold Monetisation Scheme is purely voluntary for individuals and institutions, and they can take their own decision to monetise the gold held by them.
RBI to fine tune gold monetisation scheme
The RBI is set to "fine tune" the Gold Monetisation scheme as the initial response to the scheme has been lukewarm.
Reserve Bank issues guidelines for gold schemes
Reserve Bank today issued detailed guidelines on the sovereign gold schemes aimed at curtailing the physical demand for the yellow metal.
New gold schemes may perform better than previous plans: UBS
"Our base case is that it will take some time for the scheme to gain traction, especially among rural areas where a large portion of gold demand comes from," UBS said.
Gold monetisation scheme: 2% interest likely on gold deposits
As regards the sovereign gold bond scheme, govt aims to raise Rs 15,000 cr and timing of the launch will be decided in consultations with RBI.
Cabinet approves gold monetisation scheme and gold bonds
"It is safer and economically more stable to go under both these schemes," Finance Minister Arun Jaitley said after the Cabinet meeting.
Government should revisit gold monetisation scheme: Veerappa Moily
Veerappa Moily today said the government should revisit gold monetisation scheme as it is unlikely to take off with the existing conditions.
Catch the glow of gold
Your gold may earn 2-3% interest under the proposed Gold Monetisation Scheme being finalised by the government.
Jewellers seek a role in new gold monetisation scheme
"We had a meeting with the finance ministry officials recently where we urged that jewellers be involved in the process to make the scheme successful."
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