gold scheme

Govt-backed reserve fund covers nearly half of Sovereign Gold Bonds: Report

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Govt-backed reserve fund covers nearly half of Sovereign Gold Bonds: Report

Nearly half of the gold underlying Sovereign Gold Bonds (SGBs) is fully backed by government reserves at current gold prices, senior officials told CNBC-TV18. The sources said the Centre has provisioned enough funding in the Gold Reserve Fund (GRF) to cover redemptions of 60–65 tons out of the 130 tons of gold currently outstanding under … Read more

Revamped Gold Scheme: Minimum deposit cut to 10 gm, jewellers roped in

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Revamped Gold Scheme: Minimum deposit cut to 10 gm, jewellers roped in

Kolkata: The government on Wednesday launched a revamped Gold Monetisation Scheme that seeks to unlock an estimated 22,000 tonnes of idle gold lying at Indian households by reducing minimum deposit to 10 grams, involving jewellers, and making all state-run banks participate in it. At least one third of the public sector bank branches in all … Read more