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Which banks offer gold monetization scheme?


Date: 30 Jun 2015    Group: Finance & Banking    Category: Investments   

I would like to know the complete list of banks offering Gold Monetization Scheme. Please provide me with the accurate list and other relevant details.

Want to know the banks in India which are offering the gold monetization scheme? Check out the full list at this Ask Expert page.


Author: Timmappa Kamat    30 Jun 2015      Member Level: Platinum     Points : 2  (Rs 2)    Voting Score: 0

The scheme is currently in draft and will be adopted by the banks soon. As of now SBI has been the only bank - as far as I am aware of - which offers the similar scheme under the name Gold Deposit Scheme. There is no information available - at least, as of now- about other banks.

Author: Mahesh    30 Jun 2015      Member Level: Diamond     Points : 2  (Rs 2)    Voting Score: 0

The scheme is yet to implement officially. So far ICICI bank and SBI bank has made some statements regarding similar schemes for the money via Gold. However, govt. has yet to authorize the banks or any other body for the same. Last week there was one article regarding the quality of gold, minimum gold amount for the monetization and other details. However, there is no govt action being taken on this.




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