The proposed decision to treat the gold deposited under the scheme eligible for CRR/SLR purposes is a game changer. It would release a bulk of the blocked funds which would enable banks to lend more for productive purposes. Capital gains exemption for the maturity proceeds of the scheme is also a great decision which would make the scheme a great success unlike the earlier Gold Deposit Schemes of the Govt. of India.

The Scheme will succeed only if tax-free interest of 5% to 6% per annum is given to the gold depositors. Otherwise it will fail to enthuse people as it happened to the similar scheme introduced earlier.

The scheme is good but needs better marketing. There is a bit of apprehension in people's minds. Banks should guide the public in realizing the benefits of the scheme.

I am thinking to make scheme more worthy for all. Being closely associated with farming families, i see lot of them pledge jewellaries for farming. I suggest rather then giving return on gold deposit, give interest free loan to farmers. Also lot of loans advanced on gold. If we can make the lending more attractive then probably you can see more gold stocks piling with bank. critical think is the rate of interest in lending should be less then whats available in market considering cash.

On near finalization of this scheme an open discussion in Delhi should be called of all those people who has commented on this forum.the rational behind not accepting logical proposals should be explained...if this scheme is drafted well it can be a game changer in Indian development.an return free gold bearer bond scheme can also be considered.A lot of unaccounted wealth is in form of gold.

The scheme should have special incentives for religious and charitable trusts.An long term loyalty bonus say 3 years or so an addition interest compensation such as 1 percent or so should be give as remaking compensation. No questions asked scheme for unmarried girl child and for senior citizens.The entire income in the hands of the recipient to be made tax free for higher effective return to them .Certain quantum of gold deposited by each tax payer no questions asked but a lock in period of 5yr

The religious institution has a question of storage,preserve and sales or gold and ornaments, as there are malfunctioning allegation or trustee's or adminstrator bearing, but, due to Gold monatization scheme,it can be saved from such elligation and proper value, compensation will be available to trust, as well as, the gold can be utilised for development of nation. hence, this scheme is very good for institutional gold investment.

Very large amount of Gold and other precious metals and valuable stones are stored in our religious places,especially in the temples. Government may attempt to draw that wealth by offering IT exemptions and Bonds.

Please start a Star Rating System for the contributors. From one star to five star. Once a contributor on MyGov get a Star he will be serious in giving his comments.
People would also be able to read the Star contributors and then they can be rated by people at large.
The limit of 500 characters can also be increased accordingly. If One star contributor then he can write 1000 characters, 2 star contributor upto 2000 characters and so on for the 5 satr ontributor can write upto 5000 characters.

1. The Gold Deposits with Bank should be counted against the CRR and SLR to be maintained by Bank so that they are able to lend more money at lower interest rates.
2. The Temple Trusts should also be motivated to keep their Gold Reserves with Banks. They should be given land to open state of art educational institutions and hospitals to promote Indian values and culture.
3. The cost of money for Banks will come down so lending should be at 7% and Banks should allowed a spread of 2% maximum.