Gold Monetisation Scheme, Sovereign Gold Bond Scheme, Gold Coin and Bullion Scheme - Current Affairs Questions and Answers

1)   Gold Monetisation scheme has been declared as _______ by FinMin

a. Voluntary
b. Involuntary
c. Mandatory
d. Both b and c
Answer  Explanation 

ANSWER: Voluntary

Explanation:
Gold Monetisation Scheme is considered purely voluntary for individuals and institutions and they can make their own decision for monetising gold held by them. This is in response to reports that government will directly intervene to monetise gold held by charitable, religious and other institutions.
2)   Which of the following statements is/are correct about the Sovereign Gold Bond Scheme?

1. There will be no need to buy actual gold.
2. NRI can invest in Sovereign Gold Bond Scheme.

a. Only 1
b. Only 2
c. Both
d. None
Answer  Explanation 

ANSWER: Only 1

Explanation:
There is a cap of 500 grams that a person can purchase in a year. Such bonds would be offered to only Indian citizens and institutions.

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