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Instructions:
- Select the option which is correct as per you for each question.
- Click on Submit Button, given at the end of the page.
- This Quiz Contains 20 Questions.
- In which year was the Gold Monetisation Scheme launched?
Option D
Gold Monetization Scheme was launched by Government of India in 2015 and managed by Reserve Bank of India. The scheme is known by the name Gold Monetisation Scheme, 2015. - The The Gold Monetization Scheme has modified which two schemes?
Option C
The Gold Monetization Scheme has modified the existing ‘Gold Deposit Scheme’ (GDS) and ‘Gold Metal Loan Scheme (GML). - WHo amongst the following cannot deposit gold under the Gold Monetization Scheme?
Option C
Only Resident Indians can open such accounts with the bank where they can deposit the gold. The subcategory includes- Individuals, HUFs, Proprietorship & Partnership firms, Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations, Companies, charitable institutions, Central Government, State Government or any other entity owned by Central Government or State Government. - The gold deposited under the Gold Monetization Scheme should be first examined at?
Option B
The customer can deposit gold at Collection and Purity Testing Centre (CPTC) or any bank branch designated for this business. However, this gold must be first examined at CPTC. - The collection and assaying centres certified by the Bureau of Indian Standards (BIS) and notified by the Central Government for the purpose of handling gold deposited and redeemed under the Gold Monetization Scheme are known as?
Option D
Collection and Purity Testing Centre (CPTC) - What is the Minimum Quantity of Gold to be deposited under the Gold Monetization Scheme?
Option D
Minimum Quantity of Gold: The minimum deposit at any one time shall be 30 grams - What is the Maximum Quantity of Gold that can be deposited under the Gold Monetization Scheme?
Option E
Minimum Quantity of Gold: The minimum deposit at any one time shall be 30 gramsMaximum Quantity of Gold: No Maximum Limit
- What is the interst rate on Short Term Bank Deposit (STBD) of Gold Monetization Scheme?
Option E
Interest Rate: Decided by the bank. The interest can be paid in (i) Indian Rupee equivalent of the deposited gold or (ii) denominated in grams of gold. - What is the interst rate on Medium Term Deposit of Gold Monetization Scheme?
Option B
Rate of Interest on medium-term deposit – 2.25% p.a. - What is the interst rate on Long Term Deposit of Gold Monetization Scheme?
Option C
Rate of Interest on long term deposit – 2.50% p.a. - What is the time period for Short Term Bank Deposit (STBD) under the Gold Monetization Scheme?
Option B
Time Period of Deposit– 1 to 3 years - What is the time period for Medium Term Deposit under the Gold Monetization Scheme?
Option C
Time Period of Deposit for Medium Term: 5-7 years (Minimum Lock IN period- 3 years) - What is the time period for Long Term Deposit under the Gold Monetization Scheme?
Option E
Time Period of Deposit for Medium Term: 5-7 years (Minimum Lock IN period- 3 years)Time Period of Deposit for Long Term: 12-15 years (Minimum Lock IN period- 5 years)
Rate of Interest on medium-term deposit – 2.25% p.a.
Rate of Interest on long term deposit – 2.50% p.a.
- A Scheduled Commercial Bank in case of Gold Monetization Scheme, authorized by RBI to import gold under the extant Foreign Trade Policy is known as?
Option A
Nominated bank: A Scheduled Commercial Bank authorized by RBI to import gold under the extant Foreign Trade Policy. - The refineries in case of Gold Monetization Scheme are accredited by whom?
Option A
Refiners: The refineries accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL) and notified by the Central Government for the purpose of handling gold deposited and redeemed under GMS. - What is the minimum fineness of Gold required under the Gold Monetization Scheme?
Option D
995 fineness - In case of Gold Monitisation Scheme, Banks are required to identify at least ______ branch in a State/Union Territory where they have presence to accept the deposits under the Scheme.
Option A
Banks may identify at least one branch in a State/Union Territory where they have presence to accept the deposits under the Scheme. - What is the minimum lock in period for Medium Term Deposit in Gold Monitisation Scheme?
Option B
Time Period of Deposit for Medium Term: 5-7 years (Minimum Lock IN period- 3 years) - What is the minimum lock in period for Long Term Deposit in Gold Monitisation Scheme?
Option C
Time Period of Deposit for Long Term: 12-15 years (Minimum Lock IN period- 5 years) - Which of the following cannot be deposited under the Gold Monitisation Scheme?
Option D
What kind of Gold can be deposited: raw gold (bars, coins, jewelry excluding stones and other metals) with the amount of 995 fineness gold.
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