MUMBAI: The Reserve Bank on Thursday said premature redemption under the Gold Monetisation Scheme will be payable in rupees, while on maturity the depositor may choose to opt for physical gold.
The Gold Monetisation Scheme (GMS) was launched in November 2015 with an aim to mobilise gold held by households and institutions and facilitate its use for productive purposes, and in the long run, reduce the country's reliance on imports of the yellow metal.
