In Sovereign Gold Bond Scheme there is pre redemption period after 5 years from issuance After this ...........

Economic and social issues (RBI) Monetary and fiscal policies

In Sovereign Gold Bond Scheme, there is pre-redemption period after 5 years from issuance. After this, there is a 20 day window to apply for redemption. Following 3 persons applied for the pre-redemption in 2022, whose application will be accepted? (1 mark)

Statements:

1. Lady from HUF who has invested 12 kg in SGB in “2017 Series 1.”

2. Lady who has bought bonds in the name of her minor daughter in “2017 Series 2.”

3. Lady who has bought 50 gram in “2016 Series 2.”

This questions was previously asked in

RBI Grade B Phase 2 Exam (2022)

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Only 1

Both 2 & 3

Only 3

All 1, 2 & 3

Both 1 & 3

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Explanation:

Let’s break down each statement—

- Statement 1: Lady from HUF has invested 12 kg in "2017 Series 1." For HUFs, the SGB investment limit is 4 kg per fiscal year. She’s way over the limit, so her application won’t be accepted.

- Statement 2: Lady bought SGB in her minor daughter’s name in "2017 Series 2." That’s fine, minors (through guardians) can buy SGBs, and "2017 Series 2" is eligible for early redemption after 5 years, making 2022 the right window.

- Statement 3: Lady bought 50 grams in "2016 Series 2." This is within the limit (individuals: 4 kg/year) and, after 5 years, pre-redemption applies in 2022.

So, whose applications are valid? Only Statements 2 & 3.

Option 2, Both 2 & 3, is correct.

Option:2, Both 2 & 3