2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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99.99 %
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94 %
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98.25 %
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99 %
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Detailed explanation-1: -When you buy or sell gold through Google Pay, you purchase 99.99% pure 24 K gold units from MMTC-PAMP. Your gold is stored in a Gold Accumulation Plan (GAP) that MMTC-PAMP maintains for you by storing your gold in the physical form as a custodian as long as you own the gold.
Detailed explanation-2: -(b) “MMTC-PAMP PARTNER” refers to PhonePe which is the entity facilitating collection of payments for GAP as offered by MMTC-PAMP on the Platform.
Detailed explanation-3: -The current market buying price of gold (including tax) appears. This price stays locked for 5 minutes after you begin the purchase, as the buying price may change throughout the day. It can be noted that the taxes may be different in different areas, based on your postal code.
Detailed explanation-4: -You can digitally sell gold you own in your Google Pay Gold Locker back to MMTC-PAMP. The money from your gold sale is applied to your primary bank account on Google Pay. You can also arrange for a legal heir to inherit the gold in your Gold Locker.