Consider the following statements with reference to Sovereign Gold Bonds 1 Sovereign Gold Bonds are ...........

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Consider the following statements with reference to Sovereign Gold Bonds

1. Sovereign Gold Bonds are issued on payment of the required amount in rupees and denominated in grams of gold.

2. The bonds are issued on behalf of the Government of India by the RBI

Which of the above statement(s) is/are incorrect?

1 only

2 only

1 and 2 both

None of the above

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Explanation:

Sovereign Gold Bonds are issued by RBI on behalf of the Government of India. These bonds are issued on payment of the required amount in rupees and are denominated in grams of gold. The Bonds are restricted for sale to resident Indian entities including individuals, HUFs, trusts, Universities, charitable institutions.
Both statement 1 and 2 is correct. Therefore, the correct answer is option d