New Delhi: According to the annual report of the State Bank of India (SBI), it has collected 13,212 kg of domestic and institutional gold under the Gold Monetization Scheme (GMS). The report said that the bank had raised 3,973 kg of gold under GMS in 2019-20. Explain that the government started this scheme to use the gold held with common people and trusts.
SBI said in the report, 'During the financial year 2019-20, the bank has collected 3,973 kg of gold, with which a total of 13,212 kg of gold has been raised so far.' The government introduced GMS in November 2015 to raise unused gold in homes and near institutions. The aim of the plan was to reduce the country's dependence on gold imports by using idle gold. The bank has further stated that during 2019-20 it has raised 647 kg (Rs 243.91 crore) of gold through Sovereign Gold Bond (SGB).
With Gold loan, you can fulfill your financial requirements. Then whether you need money for business, or for sudden expenses. It also helps you in a situation like emergency. If you are over 18 years of age, you can apply for a personal gold loan from SBI. You can apply on a single or joint basis. For this, you must have a stable source of income.
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