Question

A scheme that facilitates the depositors of gold to earn interest on their metal accounts, is called?

Q: Answer-A scheme that facilitates the depositors of gold to earn interest on their metal accounts, is called...

GMS is a scheme that facilitates the depositors of gold to earn interest on their metal accounts. Once the gold is deposited in metal account, it will start earning interest on the same. 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 countrys reliance on the import of gold.