This notification, issued by the Ministry of Finance's Department of Economic Affairs on October 9, 2018, announces an amendment to the Gold Monetisation Scheme. The amendment, published in the Gazette of India, Part I, Section 1, modifies paragraph 4 of the original scheme, specifically subparagraph 1, which pertains to eligibility for making deposits. The revised subparagraph expands the list of entities eligible to deposit gold under the scheme to include Resident Indians including Individuals, Hindu Undivided Families, Trusts including Mutual Funds or Exchange Traded Funds which are registered under the Securities and Exchange Board of India Mutual Fund Regulations, 1996, charitable institutions, Firms and Companies, Central Government, State Governments or any other entity owned by Central Government or State Governments. This amendment took effect on the date of its publication in the Official Gazette. The notification number is F.No. 2062015FTVol.III. The original notification being amended was published on February 3, 2016, under number 2062015FTpt.7. K. Rajaraman, Additional Secretary, is listed as the issuing authority.
Key Entities Referenced
Gold Monetisation Scheme: A scheme by the Government of India allowing resident Indians to deposit gold.
Ministry of Finance: The ministry responsible for economic and financial matters in the Government of India.
Department of Economic Affairs: A department under the Ministry of Finance responsible for economic policies and programs.
New Delhi: The location where the notification was issued, New Delhi, Delhi.
Securities and Exchange Board of India: The regulatory body for securities and commodity market in India.
Mutual Fund Regulations, 1996: Regulations set by Securities and Exchange Board of India for Mutual Funds.
Resident Indians: Individuals residing in India.
K. Rajaraman: Additional Secretary who signed the notification.
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5920GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 9th October, 2018
F.No. 20/6/2015–FTVol.III.—The Central Government hereby amends the Gold Monetisation Scheme
published in the Gazette of India, Part I, Section-1, dated 3rd February, 2016 vide notification of the Government of India
in the Ministry of Finance, Department of Economic Affairs number 20/6/2015-FT(pt.7), namely:
1. (1) In the Gold Monetisation Scheme, in paragraph 4, for sub-paragraph (1), the following sub-paragraph shall
be substituted, namely:
“4. Who are eligible to make deposit - (1) Resident Indians including Individuals, Hindu Undivided Families,
Trusts including Mutual Funds or Exchange Traded Funds which are registered under the Securities and
Exchange Board of India (Mutual Fund) Regulations, 1996, charitable institutions, Firms and Companies,
Central Government, State Governments or any other entity owned by Central Government or State
Governments, may make deposits under the scheme.”
(2) This amendment shall come into effect from the date of its publication in the Official Gazette.
K. RAJARAMAN, Addl. Secy.
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and Published by the Controller of Publications, Delhi-110054.