Government to Issue Sovereign Gold Bonds
Recently the government, in consultation with the RBI has decided to issue Sovereign Gold Bonds (SGBs) in order to facilitate gold purchase by people during the festive season. These bonds were first introduced by the government in 2015.
Sovereign Gold Bonds
- They are government securities denominated in multiples of gram(s) of gold. They are a substitute for investment in physical gold.
- To buy the bond, investor has to pay the issue price in cash to an authorised SEBI Broker. On redemption, cash is deposited into the investor’s registered bank account.
- They provide 2.5 per cent annual interest payable semi-annually on ....
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