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      Question

      Gold Monetisation Scheme replaced which of the following

      schemes of the banks?
      A Gold Deposit Scheme Correct Answer Incorrect Answer
      B Gold Investment Scheme Correct Answer Incorrect Answer
      C Gold Bond Scheme Correct Answer Incorrect Answer
      D Gold Payment Scheme Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Gold Monetisation Scheme (GMS), 2015 comprises the previous 'Gold Deposit SchemeтАЩ and the 'Gold Metal LoanтАЩ scheme, revamped and linked together in GMS.┬а The Government of India announced this scheme┬а dated September 15, 2015. The objective of the Scheme is to mobilize gold held by households and institutions of the country and facilitate its use for productive purposes, and in the long run, to reduce the country's reliance on the import of gold.

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