Sovereign gold bonds & Gold monetization scheme In hindi || Banking Tutorials
Payment Banks in hindi----- • Payment Banks in hindi
Instagram:- bankingtutorials
Greetings!
Understanding each of these schemes separately-
Sovereign Gold Bond: The Sovereign Gold Bond scheme is an investment in gold that is issued by the Reserve Bank of India (RBI) on behalf of the Government of India. This scheme aims to reduce the demand for physical gold, thereby keeping a tab on imports of gold in India and utilising resources effectively. It also offers the same benefits as of physical gold. The value of gold bond increases with the market rate of gold.
Investors can either buy these bonds through Bombay Stock Exchange (BSE) when RBI announces a fresh sale or they can also purchase it at the current price. Upon the maturity, investors can redeem these bonds for cash or can sell it on BSE at current prices.
With the Reserve Bank of India issuing this scheme, there is a high level of trust factor on transparency and safety.
Gold Monetisation Scheme: Gold Monetisation Scheme is launched with an idea to ensure mobilisation of the gold owned by the families and Indian institutions. It is expected that the Gold Monetisation Scheme would turn gold into a productive asset in India.
Generally, gold lying in bank lockers appreciates in value if the gold price goes up, but it doesn’t pay a regular interest or dividend. On the contrary, you incur carrying costs on it (bank locker charges). The Gold Monetisation Scheme allows individuals to earn certain regular interest on their gold and also saves carrying costs. The minimum quantity of gold that a customer can bring is proposed to be set at 30 grams.
Under the Gold Monetisation Scheme, an investor can deposit gold for a short, medium and long-term period. The tenure for each term is as follows- Short Term Bank Deposits (SRBD) is of 1-3 years, Mid-term is between 5-7 years of tenure and Long Term Government Deposit (LTGD) comes under a tenure of 12-15 years.