BANKING GENERAL KNOWLEDGE
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Question
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2017
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2016
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2014
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2015
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Detailed explanation-1: -003/2015-16 dated October 22, 2015 on Gold Monetization Scheme, 2015 has been updated incorporating the above changes.
Detailed explanation-2: -Gold Monetisation Scheme (GMS), 2015. The Government of India announced the Gold Monetisation Scheme vide its Office Memorandum F. No. 20/6/2015-FT dated September 15, 2015.
Detailed explanation-3: -Synopsis. “The redemption of principal at maturity shall, at the option of the depositor, be either in Indian Rupee equivalent of the value of deposited gold at the time of redemption, or in gold, ” said an RBI circular modifying the scheme. PTI.
Detailed explanation-4: -Gold Monetisation Scheme was introduced to replace the existing Gold Deposit Scheme (GDS), 1999. The scheme facilitates the gold depositors to earn interest of 2.25% annually for a short-term deposit of one year to three years. An interest rate of 2.5% is provided to the depositors for medium and long-term deposits.
Detailed explanation-5: -In Indian households, over 20, 000 tonnes of gold is lying idle. To turn this unused gold into a productive asset, the Government of India launched the Gold Monetisation Scheme (GMS).