Technoglitch
Core Member
the three schemes are:
1.Jewellry deposit in bank
2.Bond scheme
3.Coin purchases.
1.Jewellry deposit in bank
2.Bond scheme
3.Coin purchases.
News PM to launch gold monetisation scheme (GMS)
- Thread starter Technoglitch
- Start date
scorpionking76
EntMnt Knight
Read these cons:-
1. Industry experts and bankers say many prospective depositors may not take up the monetization scheme due to concerns that the tax department could question the source of gold.
2. Investors will have to disclose their permanent account number, registered with the income tax department, if the value of gold is worth more than Rs. 50,000. Some people fear it is a way for the government to keep a tab on the source.
3. Another concern is the likely loss of 20-30 per cent of the weight of jewellery as it is melted at certified centres at the cost of the depositor. Also, say experts, some people may find conventional bank deposit rates of 8 per cent more attractive.
1. Industry experts and bankers say many prospective depositors may not take up the monetization scheme due to concerns that the tax department could question the source of gold.
2. Investors will have to disclose their permanent account number, registered with the income tax department, if the value of gold is worth more than Rs. 50,000. Some people fear it is a way for the government to keep a tab on the source.
3. Another concern is the likely loss of 20-30 per cent of the weight of jewellery as it is melted at certified centres at the cost of the depositor. Also, say experts, some people may find conventional bank deposit rates of 8 per cent more attractive.
IndianMascot
Core Member
This scheme won't go well. Risks are involved in it.
Technoglitch
Core Member
esp melting the golds.
scorpionking76
EntMnt Knight
All govt. schemes will come with * conditions apply