Sunday October 21, 2018
Home India PM Modi launc...

PM Modi launches three gold-related schemes

0
//
84
www.apherald.com
Republish
Reprint

New Delhi: 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 schemes launched here are the gold monetisation scheme to convert jewellery and other yellow metal assets with people into interest-bearing deposits, and the sovereign bond scheme with an eight-year tenure, while allowing an exit option after five years.

We take a look at all three schemes:

Gold coins

-The coins will be available in denominations of 5 and 10 grams. A 20 gram bar or bullion will also be available. About 15,000 coins of 5 gm, 20,000 coins of 10 gm and 3,750 gold bullions will be made available through MMTC outlets.

-The Indian Gold coin is unique in many aspects and will carry advanced anti-counterfeit features and tamper proof packaging that will aid easy recycling.

-These coins will be distributed through designated and recognised MMTC outlets.

Gold Monetisation Scheme

Resident Indians (individuals, HUF, trusts, including mutual funds/exchange traded funds registered under Sebi norms) can make deposits under the scheme. The minimum deposit at any one time will be raw gold (bars, coins, jewellery excluding stones and other metals) equivalent to 30 grams of the precious metal of 995 fineness. There is no maximum limit for deposit under the scheme and the metal will be accepted at the Collection and Purity Testing Centres (CPTC) certified by the Bureau of Indian Standards.

Sovereign Gold Bond

Instead of buying gold in physical form investors can park their money in bonds which are backed by gold. The bonds will be available both in demat and paper form. Sovereign Gold Bond has more or equal advantage against the physical gold. The bond will be issued by RBI on behalf of the Government of India. The bond would be restricted for sale to resident Indian entities and the maximum allowable limit is 500 grams per person per year.
According to the World Gold Council, an estimated 22,000-23,000 tonnes of gold is lying idle with households and institutions in India. The annual imports amount to around 850-1,000 tonnes valued at $35-$45 billion.

These schemes will tap the festive season ahead of Dhanteras and Diwali.

(With inputs from various sources)

 

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

The Latest Gold Bangles Designs With Price: The Latest In The Line

An assortment of gold bangles is truly appealing to the eyes.

0
gold jewelry
At times, even the guests bring up gold bangles to gift to the bride. Pixabay

Men and women equally love and adore gold ornaments, and buy them according to their budgets. Different kinds of metals are used for making ornaments and gold is one of the best materials. It is alluring and expensive metal so much appreciated for its quality, look and sheen. Gold, the precious metal, is used for making a variety of jewelry in different designs, patterns and styles. Among so many kinds of gold jewelry items, gold bangles are the most popular. Gold bangles are popular type of jewelry worn by most women today. It is mostly Indian women who adorn their wrists with bangles and indeed traditional Indian jewelry is not complete without bangles.

gold jewelry
Gold Jewellery in display at a shop, Wikimedia Commons

The beautifully handcrafted gold bangles adorn and ornament dainty wrists of women folk. Now is the trend to shop online for 22k gold bangles. Gold bangles are truly versatile ornaments found in varied patterns and designs. They are available in an exciting range of shapes and specifications besides round ones. Bangles of gold and diamond are worn widely and are also gifted during weddings. When you search online for such bangles, you will find hundreds of stores showcasing 22k gold bangles designs with price. Make your choices online and get the items delivered at your doorsteps.

The different kinds of gold bangles

Bangles carrying round designs are pretty common. Look for something different and discover a range of bangles. Besides, they are available in 24k gold, 22k gold and 18k gold. From the online stores, you may buy bangles in various price ranges and styles. Online jewelry stores tend to showcase a plethora of bangle styles and designs. Indian wedding is never complete without gold jewelry. You will notice the bride wearing gold bangles all over her hands and even the guests wear beautiful bangles of gold and flaunt them in style and pride. Being the symbol of happiness and prosperity, gold bangles are gifted to a bride by her parents. At times, even the guests bring up gold bangles to gift to the bride.

If you are a parent about to wed your daughter, then you may look online for exquisite pieces of gold bangles along with price and weight. Online gold stores have made it easy to shop for gold bangles from the comfort of one’s home.

gold jewelry
Among so many kinds of gold jewelry items, gold bangles are the most popular. Pixabay

Bangles are symbolic of culture, tradition and customs. Women in this century are no more guided by age old beliefs when searching for gold jewelry. There is a kind of love affair between young women and gold jewelry in the current times. They are now putting forward their preference and choices in front before making any purchase.

Custom jewelry designs at its best

Every jewelry lover or jewelry shopper is open to trying out new designs, styles and patterns of gold jewelry. There is more demand for engraving and jewelry customization. With the online stores, there isn’t any dearth of fusion gold bangles, traditional gold bangles and contemporary designs. Latest gold designs are thin and delicate gold bangles that are gifted by moms to their daughter-in-laws. Along with such jewelry, you can gift charm bracelets to be adorned on usual occasions.

An assortment of gold bangles is truly appealing to the eyes. Buy them at best prices online.