NEW DELHI: All India Gem and Jewellery Domestic Council (GJC) Vice-Chairman Shaankar Sen has clarified about misrepresentation of his comment on Gold Monetization Scheme and certain media reports carrying the incorrect versions in the mention of quantum of Gold proposed to be deposited under revised GMS “The Gold Monetisation Scheme (GMS) was introduced by the Prime Minister in 2015 to turn gold holdings into an earning asset by allowing residents to deposit physical gold- bars, coins or jewellery — into a Gold Savings Account — the idea being to mobilize domestic gold to be channelized for productive use in the system,” said Sen. Also Read – Thermal coal import may surpass 200 MT this fiscal” However, the total deposits accumulated by the banks under the GMS are 11.1 tonnes, which is a meagre number as compared to the estimated holdings of 23,000-24000 tonnes,” he added. Also, making the GMS more effective is important to address the widening current account deficit (CAD) issue, Sen explained. “In such a scenario, it becomes imperative to understand the reason for the non-participation in the GMS,” he said. “One of the major reasons is the lack of clarity as regards the minimum quantity of Gold an individual can deposit without any scrutiny or questionability from the Income Tax department,” added Sen. “We urge that Government must give exemptions to a married woman of 500 grams gold & a family of 900 grams gold as accepted in IT Act of gold deposited under GMS.,” said Sen.
Gurugram: A person with a known criminal record was beaten to death on Saturday afternoon near Shivaji Nagar, when he stepped out of his home to meet his acquaintances. The man, identified by police as Deepak, allegedly had 11 criminal cases against him for assault and under the Arms Act. The police here said that the deceased was declared as a “bad character” by the Shivaji Nagar police station.The deceased, a resident of Shakti Park, Sector 10 A, was allegedly beaten to death with sticks by at least four men and the police claim that all four suspects have been identified. According to them, Akash, Praveen, Dhilu and Bhupi were part of the group that killed the 24-year-old Deepak. Also Read – After eight years, businessman arrested for kidnap & murderThe police said that at least two more suspects are yet to be identified and that they were all acquaintances of Deepak. Assistant commissioner of police (ACP), crime, Shamsher Singh said, “Deepak had an altercation with the suspects. He was severely beaten and succumbed to his injuries later on Saturday. We have identified four of the suspects. At least two more are unidentified.” Police officials added that after the incident, Deepak’s friends rushed him to a hospital in the city where he died while undergoing treatment for the past two days. The victim’s cousin said that he had left home saying that he would be back in 10 minutes. “The incident took place near our house. His friends got involved in a fight. Deepak tried to sort out the argument but he was beaten with sticks and rods.” A case has been registered against the suspects under sections 323 (voluntarily causing hurt), 506 (criminal intimidation), 302 (murder), and 34 (common intention) of the IPC at the Shivaji Nagar police station.