Jaipur is the largest city of the state Rajasthan. It is the capital holding a huge demand for gold in the state. It is also known as the pink city being a home to 3 million citizens. Jaipur is the biggest SEZ in the country. It has seen the emergence of extensive education leading to understanding the benefits of investments in gold.
The precious metal in question has become a tradable commodity with time while the tradition of its jewellery and ornaments persists from a quite long time. Awareness of trading markets regarding gold has led to the radical shift of in its investment opportunities.
Launched back in November, the Prime Minister Narendra Modi brought the scheme into action saying one could earn interest on the gold lying unused in the bank lockers. The scheme aimed at more deposits expecting it to come out as a productive asset in the country.
The GDS – Gold Deposit Scheme and GML- Gold metal loan scheme is modified into the new regime brought in the society displacing GDS 1999.
Under the GMS 2015, the investor possesses the following advantages:
Some art of the gold, which is collected by the Gold Monetisation Scheme, is lent to MMTC and RBI to mint coins for sale. This ensures circulation of gold deposits in the entire country. Being one of the most valuable commodities, the government aims at building and strengthening the nation's economy through this scheme.