World Economy

Gold Deposit Scheme

Gold Deposit SchemeGold Deposit Scheme

Describing the proposed gold deposit scheme as “game changer”, India’s economic research department has said it will help attract at least Rs 1 trillion ($16.2b) in deposits on the precious metal, PTI reported.It will be a “game changer” by incentivizing the banks to hold a part of the deposits as part of the mandatory cash reserve ratio or the statutory reserve ratio, it said.