Question :
Which of the following statements regarding the Sovereign Gold Bond (SGB) Scheme is/are not correct?
I. The bonds are issued by the Reserve Bank of India (RBI) on behalf of the Government of India.
II. The maximum limit of subscription for individuals is 4 kg per financial year.
III. The minimum permissible investment is 10 grams of gold.
Solution :
• Statement I is correct - RBI does issue the bonds on behalf of the Government of India.
• Statement II is correct - For individuals and HUFs, the maximum limit is 4 kg per financial year (as per current guidelines).
• Statement III is incorrect - The minimum permissible investment is 1 gram, not 10 grams.
Study Notes
Category
