Question

    Gold Monetisation Scheme replaced which of the following schemes of the banks?

    A Gold Deposit Scheme Correct Answer Incorrect Answer
    B Gold Investment Scheme Correct Answer Incorrect Answer
    C Gold Bond Scheme Correct Answer Incorrect Answer
    D Gold Payment Scheme Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Gold Monetisation Scheme (GMS), 2015 comprises the previous 'Gold Deposit Scheme’ and the 'Gold Metal Loan’ scheme, revamped and linked together in GMS.  The Government of India announced this scheme  dated September 15, 2015. The objective of the Scheme is to mobilize gold held by households and institutions of the country and facilitate its use for productive purposes, and in the long run, to reduce the country's reliance on the import of gold.

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