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      Question

      The stand-by Letter of Credit (LC) or Bank Guarantee

      (BG) issued by scheduled commercial banks for Gold (Metal) Loans should be denominated in:
      A Indian Rupees. Correct Answer Incorrect Answer
      B Foreign currency. Correct Answer Incorrect Answer
      C Gold Correct Answer Incorrect Answer
      D Euros Correct Answer Incorrect Answer
      E Both a) and b) Correct Answer Incorrect Answer

      Solution

      The stand-by LC/BG issued for Gold (Metal) Loans should be denominated in Indian Rupees, not in foreign currency or any other form.

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