Nepal Rastra Bank Notice Regarding Gold Monetisation Scheme:
Citizens have now got interested in deposit gold in commercial banks. Nepal Rastra Bank issued a directive to the commercial banks on Thursday to make arrangements for collecting gold as a deposit. Commercial banks will now be able to collect gold as a deposit for a period of at least 5 years to a maximum of 5 years.
Banks have been given the authority to make detailed procedures for the collection of gold deposits and pass them through the Board of Directors.
The bank has established a gold purification and weighing mechanism to accept at least 995 fitness gold. The bank can decide whether to keep the gold collected by the banks in the treasury or to sell it to the businessmen.
