PNB becomes top mobiliser under Gold Monetisation Scheme

State-owned Punjab National Bank recently said it has become the top mobiliser under Gold Monetisation Scheme, which was launched by Prime Minister Narendra Modi in November. The bank has mobilised substantial gold deposit under Short Gold Bank Term Deposit (STGBD) for three years from one of the leading trusts of India – Tirumula Tirupati Devasthanam, Tirpuati (TTD), PNB said in a statement.

Thus, PNB is the top mobiliser of gold under Gold Monetization Scheme(GMS), it said. The bank has mobilised 1,311 kg of gold since the launch of the scheme in November. It would continue to work actively for mobilization of gold deposit under GMS, it added. PNB Managing Director Usha Ananthasubramanian accepted accepted delivery of gold from TTD Executive Officer S Sambasiva Rao.

Courtesy: Business Today