Gold Monetization Scheme PDF (GMS Scheme)
GMS, which modifies the existing ‘Gold Deposit Scheme’ (GDS) and ‘Gold Metal Loan Scheme (GML), is intended to mobilise gold held by households and institutions of the country and facilitate its use for productive purposes, and in the long run, to reduce country’s reliance on the import of gold.
These Directions shall be called the Reserve Bank of India (Gold Monetization Scheme) Directions, 2015.
All Scheduled Commercial Banks excluding RRBs will be eligible to implement the Scheme.
The banks intending to participate in the Scheme should formulate a comprehensive policy with approval of the board to implement it.
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