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Govt allows redemption of GMS deposits in gold
short by Aditya Kashyap / on Saturday, 2 April, 2016
The Finance Ministry on Friday tweaked the norms for the Gold Monetisation Scheme (GMS) by making gold deposited by investors under medium and long-term deposits redeemable in terms of gold. However, the interest accrued will be paid only in cash. “It is expected that the... modification will make the scheme more attractive for potential depositors,” the ministry said.