 "Sebi permits ETFs to invest in Gold Monetisation Scheme")
The Securities and Exchange Board of India (SEBI) today allowed gold exchange traded funds (ETFs) to invest in the recently-launched gold monetisation scheme.
However, the total exposure of the gold ETF towards the monetisation scheme should not exceed 20% of the assets under management (AUMs) of the scheme.
The Reserve Bank of India (RBI), in October, had issued a notification to the effect that the Gold Monetisation Scheme, 2015 will replace the Gold Deposit Scheme, 1999. However, the deposits outstanding under the GDS will be allowed to run till maturity unless these are withdrawn by the depositors prematurely.
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