Gold bond scheme & gold monetization scheme - General Economics & Indian Economy
Q. Which of the following statements is / are correct?
1. In Gold bond scheme, investors buy the gold in physical form.
2. In gold monetization scheme, interest paid will be in form of gold.
- Published on 10 Jul 15
a. Only 1
b. Only 2
c. Both 1 and 2
d. None of the above
ANSWER: Only 2
In Gold bond scheme, investors buying gold don't get the metal in physical form. Instead, they get a paper or certificate issued by the government saying they bought a certain amount of gold.
Under the gold monetization scheme It is a scheme that facilitates the depositors of gold to earn interest on their metal accounts. Once the gold is deposited in metal account, it will start earning interest on the same.
Both principal and interest to be paid to the depositors of gold, will be ‘valued’ in gold.