RBI Update - Gold Monetization Scheme (GMS), 2015 - Amendment

RBI has issued the notification regarding the Gold Monetization Scheme (GMS), 2015 - Amendment The following has been stated Reference Update – The amended provisions include an additional reference to a press release dated March 25, 2025 , regarding the Gold Monetization Scheme (GMS).

Discontinuation of MLTGD – The mobilization and renewal of Medium Term and Long Term Government Deposit ( MLTGD) have been discontinued effective March 26, 2025 .

Deposit Mobilization – Clarified that deposits under MLTGD will not be accepted after March 25, 2025 , but existing deposits will be governed by prior provisions.

Handling Charges & Commission – Banks will receive commission until deposits are accepted , and renewals on or before March 25, 2025, will have the same commission structure.

Gold Deposit Accounts – The amended provisions specify that MLTGD deposit receipts must be dated on or before March 25, 2025 .

Renewal Guidelines – Renewal of MLTGD is no longer permitted from March 26, 2025 . Redemption Process – Depositors must provide their preference for redemption within 120 days of maturity ; otherwise, the default redemption mode will apply.

Gold Stock Requirement – Banks must maintain gold stock for redemption until March 25, 2025 , after which they must notify the Government of India in case of shortages.

Deleted Provisions – The modalities for renewal and partial renewal/redemption have been removed.

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