MUMBAI (Reuters) - (Corrects in first paragraph to say "CRR and SLR will be applicable to short-term bullion deposits" instead of "will allow lenders to count short-term bullion deposits under the gold monetisation scheme as part of their cash reserve ratio or statutory liquidity ratios"; also deletes "increasing the appeal of the plan for the sector" in first par and corrects headline)
The Reserve bank of India said on Thursday banks' cash reserve ratio and statutory liquidity ratio will be applicable to short-term bullion deposits under the gold monetisation scheme.
The measure was part of RBI's guidelines for the gold scheme, which is intended to lure Indian households to deposit gold at lenders in exchange for interest rate payments.
Among the details, the RBI said it will allow banks to take a minimum deposit of 30 grams of gold from individuals, who will be allowed to place the bullion for time periods ranging from one-year to 15 years.
For details see: http://bit.ly/1LpSd5W
(Reporting by Rajendra Jadhav; Editing by Rafael Nam)
