|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.