Gift tax when transfered to spouse

Hi,

I've some amount parked in Yes Bank saving bank account which I'm thinking to invest but it may take some time. I'm receiving interest on that and as it's 7% the amount is big. I want to save the tax on this amount, so would like to park this money to my non-working wife account so that interest received is not taxable.

Can you please confirm if I transfer the amount to my spouse's account, does it has any sort of tax liability to her or me.

Regards
Manish