RBI allows pre-mature withdrawal in GMS
In an effort to make the Gold Monetisation Scheme (GMS) more customer-friendly, the RBI on Thursday said depositors will be able to withdraw government deposits pre-maturely after the minimum lock-in period, though with a penalty. The minimum lock-in period for medium-term deposit (5-7 years) is three years, and for long-term deposit (10-12 years) is five years.