Question

Q34) Consider the statements about Gold Monetization Scheme:

1.Banks can accept a minimum of 30 g of raw gold in a gold savings account.

2. There is an upper limit on the weight of the gold that will be accepted)

3. Interest will be paid on the gold deposited)

Which of the above statements is/are correct?

• A. a) 1 and 2 only
• B. b) 2 and 3 only
• C. c) 1 and 3 only
• D. d) All of the above

Answer 1

The correct option is C

c) 1 and 3 only

Answer 34: C

Explanation: Banks can accept a minimum of 30 g of raw gold in a gold savings account with no upper limit on the weight of gold that
will be accepted) Interest will be paid on the gold deposited and also the appreciation of metal value.