• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Nation

Centre Discontinues Gold Monetisation Scheme, Short-Term Deposits Will Continue

OMMCOM NEWS by OMMCOM NEWS
March 25, 2025
in Nation

New Delhi:  The government on Tuesday announced to discontinue the medium term and long term government deposit (MLTGD) components of the Gold Monetisation Scheme (GMS), effective from March 26.

The Ministry of Finance said in a statement that banks may continue their short term gold deposit schemes (1-3 years).

About 31,164 kilograms of gold have been mobilised under GMS (till November 2024).

“Based on the examination of the performance of the Gold Monetisation Scheme (GMS) and evolving market conditions, it has been decided to discontinue the Medium Term and Long Term Government Deposit (MLTGD) components of the GMS w.e.f. March 26, 2025,” said the ministry.

Accordingly, any gold deposits tendered at the designated Collection and Purity Testing Centre (CPTC) or GMS Mobilisation, Collection and Testing Agent (GMCTA) or the designated bank branches under the said components of GMS shall not be accepted with effect from March 26, 2025.

“However, the existing deposits under MLTGD shall continue till redemption as per extant guidelines of GMS,” it added.

The Gold Monetisation Scheme was announced on September 15, 2015, with the objective to reduce country’s reliance on the import of gold in the long run, and mobilise gold held by households and institutions in the country to facilitate its use for productive purposes.

Further, the Short-Term Bank Deposits (STBD) offered by the banks under GMS shall continue at the discretion of the individual banks based on the commercial viability as assessed by them.

“The detailed guidelines of Reserve Bank in this regard shall follow,” said there government.

The GMS comprised of three components: Short Term Bank Deposit (1-3 years); Medium Term Government Deposit (5-7 years), and Long-Term Government Deposit (12-15 years).

Gold is widely considered a safe-haven asset, gaining traction during times of geopolitical and economic instability. The metal has already hit 16 record highs in 2025, surpassing the $3,000 per ounce mark on four occasions.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

BJP Is Making It An Issue By Telling Baseless Lies: Cong Over DK Shivakumar Controversy

Next Post

Manipur: 16 Political Parties Urge Centre To Defer Delimitation Till 2026

Related Posts

Nation

Ship Wreck Case: Nurdles Washed Ashore Along 36 Coastal Villages In TN’s Kanyakumari

June 3, 2025
Nation

BJP, Congress And AAP To Witness Triangular Contest For Bypolls In Gujarat

June 3, 2025
Nation

Indore’s Missing Couple Mystery: Man Found Dead In Meghalaya, Wife Remains Untraced

June 3, 2025
Nation

Active Covid-19 Cases Cross 300-Mark In K’taka, Authorities On Alert

June 3, 2025
Nation

In Spain, Indian Delegation Interacts With People Directly Affected By Terrorism

June 2, 2025
Nation

Flood Situation Deteriorates In Assam; Death Toll Rises To 36 In Northeast

June 2, 2025
Next Post

Manipur: 16 Political Parties Urge Centre To Defer Delimitation Till 2026

‘Don’t Worry About My Hundred’: Shreyas Iyer’s Message To Shashank Singh

Asian Cup 2027 Qualifiers: India Play Goalless Draw Against Bangladesh In Opening Match

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.