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RBI/2016-17/243
DGBA.GAD.No.2294/15.04.001/2016-17
March
6, 2017
All Agency Banks
Dear Sir/Madam
Gold
Monetisation Scheme
Please refer to RBI Master Direction
No.DBR.IBD.No.45/23.67.003/2015-16 dated October 22, 2015 (updated
up to January 21, 2016) on the above subject. In order to operationalise
the scheme, we advise the following:
2. In order to have uniformity
in reporting, reconciliation and accounting, agency banks may report the
Gold Monetisation Scheme transactions i.e., receipt, payment, penalty,
interest, commission for mobilisation, handing charges, etc., directly
through the government account maintained for the purpose at Central
Accounts Section, Reserve Bank of India, Nagpur, on a daily basis as in the
case of the transactions of Public Provident Fund (PPF) Scheme, 1968. You
may, therefore, approach our Central Accounts Section, Reserve Bank of
India, Nagpur for necessary arrangements to report Gold Monetisation Scheme
transactions with immediate effect.
3. Branches authorised to
operate the scheme may be advised to bring the details of the scheme to the
notice of their customers appropriately.
Yours faithfully
(Partha Choudhuri)
General Manager
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