RBI has lowered the investment time limit of banks gold schemes and allowed SEBI registered mutual funds and ETFs to participate. Introduction of such schemes would require prior approval of thr RBI . Maturity period of gold deposits would now range from 6 months to 7 months

RBI modifies provisions of the Gold Deposit Scheme 1999

RBI has lowered the investment time limit of banks’ gold schemes and allowed SEBI registered mutual funds and ETFs to participate. Introduction of such schemes would require prior approval of the RBI. Maturity period of gold deposits would now range from 6 months to 7 years.