What is the main purpose of the proposed Gold Monetisation Scheme?
What is the main purpose of the proposed Gold Monetisation Scheme?
[A]Allow consumers to sell gold to banks at par with markets
[B]Allow consumers to deposit Gold with banks to get tax-free interest
[C]Allow government of India to sell its Gold stock to utilize for welfare schemes
[D]All RBI to monetize gold to pump money in the economy
Allow consumers to deposit Gold with banks to get tax-free interest
The proposed Gold Monetisation Scheme proposes to offer tax-free interest to individual on depositing the yellow metal with banks. Government recently circulated a cabinet note on this scheme.