What is/are the purpose/purposes of Government’s ‘Sovereign Gold Bond Scheme’ and ‘Gold Monetization Scheme’?
- To bring the idle gold lying with Indian households into the economy
- To promote FDI in the gold and jewellery sector
- To reduce India’s dependence on gold imports
Select the correct answer using the code given below.(2016)
a) 1 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2 and 3
Sovereign Gold Bond Scheme was launched by Govt in November 2015, under Gold Monetisation Scheme.
Sovereign Gold Bond Scheme. Sovereign Gold Bonds are Government securities denominated in multiples of gram(s) of gold. They are substitute for investment in physical gold. To buy the bond, investor has to pay the issue price in cash to an authorised SEBI Broker.
There is no mention of bringing FDI to the gold and jewellery sector