Three New Gold Schemes introduced by Government of India

1. Which of these is not the component of three new gold schemes introduced by Government of India recently?
   1. Gold Monetization Scheme
   2. Sovereign Gold Bond Scheme
   3. India Gold Coins
   4. Rs 10,000/- Gold Coin
       
2. Which of the following is not correct of Gold Monetisation Scheme?
   1. Interest will be paid on gold deposits.
   2. Minimum deposit shall be raw gold equivalent to 30 grams of gold of 995 fineness and maximum limit of deposit shall be 500 grams of gold.
   3. Gold will be accepted by designated bank for short term (1-3 years), medium term (5-7 years) and long term (12-15 years)
   4. All scheduled banks are free to fix interest rates.
   5. Pre-mature withdrawal of deposits is allowed, subject to minimum lock-in period and penalty- to be determined by individual banks. Though bank will return the 'standardized gold bars only'
       
3.  Which of the following is not the salient feature of Sovereign Gold Bond Scheme?
   1. Bonds will be issued by RBI on behalf of central government.
   2. Minimum investment limit is 2 grams while the maximum subscription is 500 grams.
   3. The bonds can be issued to NRI to encourage foreign investments in the country.
   4. The bond tenure will be 8 years with exit option beginning 5^th year onwards.
   5. These will be tradable in the bourses and could be used as collateral for loans.
       
4. The Indian Gold Coins will bear on its face :
   1. Ashok Chakra
   2. Emblem of India
   3. Face of Mahatma Gandhi
   4. RBI's logo
       
5. Find the correct options among the following
   1. India has approximately 50,000 tonnes of Gold
   2. India imported Rs 2.1 lakh crore worth of gold in financial year 2014-15

1. Both i and ii are correct
2. Neither i or ii are correct
3. only ii is correct
4. only i is correct

Answers

1. d
2. b, there is no maximum limit
3. c, only to resident Indians
4. a
5. c