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The Gold Monetization Scheme (GMS) by the Indian government aims to utilise idle gold and reduce import dependency. 😎 It offers interest on gold deposits in two types: Short-term Bank Deposit (STBD) for 1-3 years, and Medium- and Long-Term Government Deposit (MLTGD) for 5-7 years or 12-15 years. Key features include flexible tenure, tax benefits, safety, security, and liquidity. The scheme benefits depositors with returns on gold investments and the economy by reducing reliance on imported gold

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