The correct answer is D. All Scheduled Banks and Co-operative Banks.
The Guarantee Bond Scheme is a scheme that was introduced by the Reserve Bank of India (RBI) in 2005. The scheme is designed to provide a guarantee to banks that make remittances to foreign countries. The guarantee is intended to protect banks against losses that may arise from non-payment of remittances by the beneficiaries.
The scheme is open to all scheduled banks and co-operative banks in India. To avail of the scheme, banks must first obtain a guarantee from the RBI. The guarantee is issued on a case-by-case basis, and the terms and conditions of the guarantee are determined by the RBI.
The scheme has been successful in promoting remittances from India to foreign countries. In the first five years of the scheme, the RBI issued guarantees for remittances worth over Rs. 1 trillion. The scheme has also helped to reduce the cost of remittances for Indian nationals living abroad.
The following are the options for the question:
- A. Only Associated Banks
- B. Only Nationalized Banks
- C. Only Foreign Banks
- D. All Scheduled Banks and Co-operative Banks
Option A is incorrect because the Guarantee Bond Scheme is open to all scheduled banks and co-operative banks in India.
Option B is incorrect because the Guarantee Bond Scheme is open to all scheduled banks and co-operative banks in India.
Option C is incorrect because the Guarantee Bond Scheme is open to all scheduled banks and co-operative banks in India.
Option D is correct because the Guarantee Bond Scheme is open to all scheduled banks and co-operative banks in India.