You have no items in your shopping cart.
PM launches three gold-related schemes
Prime Minister Narendra Modi 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 -
Initially the coins will be available in denominations of 5 and 10 grams. A 20 gram bullion will also be available through 125 MMTC outlets.
According to the World Gold Council, an estimated 22,000-23,000 tonnes of gold is lying idle with households and institutions in India.