India ends medium-term and long-term gold deposit schemes due to high gold prices and market changes.

India has discontinued medium-term and long-term deposits under its Gold Monetisation Scheme (GMS) starting March 26, 2025, due to rising gold prices and evolving market conditions. Introduced in 2015, the GMS aimed to reduce reliance on gold imports and mobilize idle gold. Banks may still offer short-term gold deposit schemes. Existing deposits will continue until maturity.