MUMBAI (Reuters) -
The Reserve bank of India said on Thursday banks' cash reserve ratio and statutory liquidity ratio will be applicable to short-term bullion deposits under the gold monetisation scheme.
The measure was part of RBI's guidelines for the gold scheme, which is intended to lure Indian households to deposit gold at lenders in exchange for interest rate payments.
Among the details, the RBI said it will allow banks to take a minimum deposit of 30 grams of gold from individuals, who will be allowed to place the bullion for time periods ranging from one-year to 15 years.
For details see: http://bit.ly/1LpSd5W
(Reporting by Rajendra Jadhav; Editing by Rafael Nam)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app