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Our partnership with World Gold Council is not new and we have been jointly making Gold Coins accessible to the
masses PAN India through India Post Offices and our own distribution strength. Reliance experience in the gold
business and WGC research on Indian Consumer both indicated a need for a simple gold accumulation product
which is affordable, is safe and can be easily fulfilled. WGC is the marketing associate for R-MGP. It will assist
RMPM in marketing and promoting R-MGP. RMPM will provide the R-MGP product and is responsible for day-today management which includes procurement of gold, dealing with the service providers, servicing customers,
distributors and fulfillment partners pan India. Marketing efforts are shared, and we are confident that the product
will be an efficient solution to the customers looking to accumulate gold.
1. Lemuir Logistics who is our custodian with whom the gold grams allotted to the customers are stored
1 gm
2 gm
4 gm
5 gm
8 gm
10 gm
20 gm
50 gm
Making
Charge (Rs)
100
120
140
160
200
200
300
450
75
24. Why is the Administrative Charge charged on MY GOLD PLAN price instead of the Subscription amount? Does the
customer take a greater hit if the administrative charge is charged on MY GOLD PLAN price?
The product has been structured in such a way that the Administrative charge is charged on the MY GOLD PLAN
price instead of the Subscription amount and the terms and conditions state the same. Such an arrangement is
beneficial to the customer.
Consider a subscription amount of Rs. 10000 and Rs. 3000 to be the Gold Price.
If the administrative charge were to be charged on this subscription amount then the Administrative Charge would
be Rs. 150. Thus the grams allotted would be Rs. 9850 / Rs. 3000 = 3.2833 grams.
If the administrative charge were to be charged on the Gold Price then the Administrative charge would be an
additional Rs. 45 (Rs. 3000 x 1.5%) added to the Gold Price. Thus the grams allotted would be Rs. 10,000 / Rs. 3045 =
3.2840.
You can test this by decreasing the subscription amount or by increasing the price of Gold and the customer will
always be the winner.
The customer is engaged right from the time he is on-boarded till the time he fulfils his gold grams accumulated in
the form of gold coins or jewellery. When the customer is first on-boarded a welcome call is done to the client. The
customer is also sent a welcome letter by post as well as email. The customer is sent regular reminders about the
payment that is due for the month and also SMS of the grams accumulated on a monthly basis. The customer can
call on a toll free number where his/her queries will be answered. The customer can also send his
grievances/redressals to our email ID to which responses will be given within 24 hours.
41. How do I open a new R-MGP account?
The customer has to submit a completely filled and signed application form along with valid acceptable KYC proof,
duly self attested, and initial payment at RMPM collection centres. Subscription to Reliance My Gold Plan can also be
done online by clicking the Buy Online button on our website www.reliancemgp.com. The online application form
will load where you need to fill out all the mandatory details. You also have the option of uploading scanned images
of your KYC documents (valid photo ID proof, address proof and photograph). Payment can be made via convenient
modes of Credit Card, Debit Card & Net Banking through the safe & secure payment gateway.
42. What are the KYC requirements?
To meet the KYC requirements of R-MGP, the customer needs to submit acceptable Proof of Identity and Proof of
Address.
Acceptable Proof of Identity and Address (any one of the following) are as follows:
Identity Proof: (i) UID (Aadhar); (ii) Passport; (iii) Voter Id; (iv) Driving Licence; (v) Identity card/document issued by
Govt/Regulatory/Statutory Authorities*.
Address Proof: (i) UID (Aadhar); (ii) Passport; (iii) Voter Id; (iv) Driving Licence; (v) Ration Card; (vi) Registered
Lease/Sale Agrement; (vii) Latest** Bank Statement/Passbook; (viii) Latest** Utility Bill; (ix) Identity card/document
with address issued by Govt/Regulatory/Statutory Authorities*.
*
55. If a customer visits an Itz Cash outlet on a date other than the 10 th or 20th for the monthly subscription payment,
will the payment be accepted?
Yes, the payment will be accepted.
56. Can a customer discontinue their current mode of payment (for example ECS or post dated cheque) and opt for
Cash mode or vice-versa?
No, a customer cannot discontinue their existing mode of payment and switch to another mode in the middle of
their subscription to the plan.
57. Are there any charges while making payments through Post Dated Cheques or Cash mode?
There is no charge to the customer if he is making his monthly payments via Post Dated Cheques. However, for cash
mode of payment, there is a flat transaction fee of Rs. 20/- plus service tax per transaction.
58. What will happen in case my ECS / Direct Debit gets rejected in any month?
No accumulations will be recognized in case of ECS/Direct Debit rejections. In case of 3 consecutive ECS/Direct
Debits defaults, forced closure of plan would be initiated by RMPM.
59. Is it possible to subscribe to Reliance My Gold Plan without submitting an ECS mandate?
Yes, you can subscribe to Reliance My Gold Plan without submitting an ECS mandate, provided you make an initial
subscription of Rs. 12,000/- or higher. You can then make additional subscriptions to the plan until the maturity of
your tenure. The daily averaging feature will apply to the initial subscription payment in this case as well.
60. Can I make additional payment during the tenure?
Yes. An additional payment can be made by submitting either a cheque or DD in favour of Reliance My Gold Plan
Customer Id <<XXXXXX> to CAMS collection centre.
61. Can an Option be provided wherein Additional Purchases are not split into 20 purchases?
Yes, there is an option of One time Allotment in the Additional Subscription Request form. If you select this option,
the amount will not be split into 20 tranches, it will be deployed at one time to allocate gold grams to your Reliance
My Gold Plan account.
62. How can a customer get the one-time allotment option in case of Initial or Monthly subscription?
The customer cannot get the one-time allotment option in case of Initial or Monthly subscription. This option is only
available for Additional Subscriptions.
Fulfillment of Gold
77. Will I be able to place fulfillment request for gold coins prior to the completion of tenure?
Yes. Once the lock-in period of 6 months is over, you can redeem gold coins prior to the completion of the tenure.
However Pre-Termination Charges as aforesaid will need to be paid. If you do not wish to pay the pre-termination
charges, you need to pay the amount remaining to complete 12 times your monthly subscription amount at the time
of making your fulfillment related payments.
For example, if you have opted for a 1 year tenure with monthly subscription amount of Rs. 2000/- (1 yr
commitment amount= 12 x 2000 = 24,000) and want to close the plan after the 8 th month, you need to pay the
remaining amount of Rs. 2000 x 4 = Rs. 8000 for the pre-mature termination charges not to apply.
78. In what denominations will I be able to get Gold Coins?
Fulfillment of gold coins will be in following denominations only: 0.5 / 1 / 2 / 5 / 8/ 10 / 20 / 50 grams.
79. Can I do partial fulfillment? How can one do a Partial Fulfillment of the Gold Gram?
Partial fulfillment can only be done if the grams accumulated in the customers account are greater than 5 grams.
Customer can request for a partial fulfillment post lock-in period and latest 15 calendar days prior to maturity
subject to a minimum fulfillment of 5 grams and in multiples of 0.5 grams thereafter. Customer has to mention the
denomination of coins to be fulfilled at the time of submitting the fulfillment request. Partial fulfillment can be done
only in coins & not jewelry.
80. How is the fulfillment related payment calculated?
Upon the 20th allotment of gold grams for the last monthly subscription amount, the balance gold grams for
rounding off to the nearest incremental 0.5 grams are calculated. The R-MGP price on the date of generation of
maturity advice is taken into consideration for calculating the rounding off charges. Depending on the denomination
of the coins, coin making charges are levied (in case of coin fulfillment only) and applicable taxes like VAT/CST and
Octroi/Local Body Tax are levied. Delivery charges if any are levied (in case of home delivery).
81. When will I be informed about the maturity of my subscription to the plan?
45 days prior to maturity, our call centre will contact you informing you about the maturity of the plan and to verify
your address registered with us in order to ensure delivery of gold at the proper address.
If you address has changed, you need to submit a Change request form (available on the Quick Downloads section of
the website) mentioning your latest address duly signed, at the nearest CAMS location which can be found at
http://www.camsonline.com/InvestorServices/COL_ISServiceCenter.aspx .
82. Are there any charges at the time of fulfillment? How will I be informed of them?
A maturity advice will be sent to the customer which will inform the customer about the following: Fulfillment
Related Payments: a) Rounding off charges to the nearest incremental 0.5 grams b) Pre-mature termination charge,
if applicable c) VAT & other state levies like Octroi, Entry tax etc. as may be applicable.
83. Is it mandatory to pay the fulfillment related charges?
Yes. The customer will be reminded about his pending fulfillment related payments via call and SMS if the fulfillment
related payments are not made within 10 working days of dispatch of maturity advice, if the payment is not done till
then.
84. How will I get delivery of the gold coins?
Delivery of gold coins will be done at your registered address via courier. After all the fulfillment related charges
have been paid, the gold coins will be delivered in sealed envelopes by our empanelled logistics partners.
85. How can I track the movement of my gold coin shipment?
An SMS containing the Airway Bill Number (AWB No.) will be sent to you that you need to enter on the website
www.bluedart.com to track your gold coin shipment.
86. What is the TAT of delivery of the gold coins?
The TAT for delivery of the gold coins is 10 working days after realization of all fulfillment related payments.
87. What are the documents that will be sent to me along with the gold coins?
A tax invoice will be sent to you via e-mail and physical post within 3 days of realization of all fulfillment related
payments.
A physical delivery note will also be a part of the shipment that contains the gold coins.
88. Is there an option to fulfill my gold grams in jewelry form? If yes, then what is the process for the same?
Yes, the customer can fulfill their gold grams at the jewellery fulfillment partners empanelled by Reliance My Gold
Plan.
89. Where can I get the list of Jewellery Fulfillment Partners empanelled for Reliance My Gold Plan?
The list of the jewellery fulfillment partners is available on the website in the Customer Corner section -> Locate
Fulfillment Centre. The process to fulfill the gold grams in jewellery form is as follows:
90. Until when can I change my fulfillment preference to jewellery and select the jewellery fulfillment partner?
The customer can fill a fulfillment request form latest 15 days prior to maturity indicating his fulfillment preference:
a) Fulfillment type: Jewellery Fulfillment b) Fulfillment Location: The customer will have to specify the jewellery
fulfillment location where he wants to redeem in jewellery.
96. Will I have to show any identity proof at the time of taking the physical gold coins?
You need to produce valid proof of identity along with the fulfillment receipt at the time of taking the delivery of
gold coins. Delivery will not be made to any other person acting or purporting to act on behalf for you for fulfillment.
97. Can someone else redeem the physical gold coins on my behalf?
Only in case of death of the applicant, the nominee who has been registered as per our records will be able to
collect the gold coins by showing the proof of identity of the nominee along with the original / notarized copy of the
death certificate of the applicant.
98. What if the customer dies during the tenure of the plan?
In case the customer dies within the Lock-in period then the nominee can choose to wait till the completion of the
lock-in period to place a fulfillment request for the Gold Coins. Alternatively the nominee can transfer the plan in
his/her name by filling out a transfer request form along with the standard KYC documentation. The nominee is such
a case can appoint a new nominee.
99. What if the customer doesnt turn up after completing 12 months if he has chosen a 12 month plan. What are the
charges?
The customer has to fulfill the Gold Grams within 60 days of completion of tenure. If the customer doesnt fulfill the
Gold Grams within 60 days of completion of tenure, then Safekeeping charges shall be levied on the customer at the
rate of 0.5% per annum of the total subscription amount.
100.
Can I opt for cash instead of gold coins at the time of fulfillment?
No. Fulfillment will be only in the form of physical gold coins.
101.
We shall try to make delivery as soon as a fulfillment request is logged. The max TAT within which the delivery shall
be made would be 15 days from the date of successful realization of fulfillment related payment.