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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Reserve Bank of India <br /><br /> Reserve Bank of India (Gold Monetization Scheme) Direction, 2015.<br /><br /> MANU/RMIC/0370/2015 - (22 Oct 2015)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>Reserve Bank of India has introduced a ‘Gold Monetization Scheme’, amending the ‘Gold Deposit Scheme’ and ‘Gold Metal Loan Scheme’. It encompasses Directions setting criteria for gold deposit, valuation and payment. The Central Government is required to notify a list of BIS certified Collection and Purity Testing Centres to handle gold deposited and redeemed under the Scheme. It is hoped if the Scheme proves popular it will reduce India’s reliance on gold imports in the long run.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Relevant : Direction on implementation of Gold Monetisation Scheme (GMS), 2015 <manuid>MANU/RPRL/0172/2015</manuid> Guidelines on Import of Gold by Nominated Banks / Agencies <manuid>MANU/APDR/0025/2015</manuid></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Gold, monetize, scheme, 2015, imports</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>