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Saturday 27 August 2016

RBI has said sovereign gold bonds can be traded on stock exchanges from Monday : 26 Aug 2016

sovereign gold bonds
The Reserve Bank has said sovereign gold bonds issued in February and March can be traded on stock exchanges from Monday.

SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.

Govt gives nod to sovereign Gold bond scheme

Sovereign gold bonds (issued on February 8, 2016 and March 29, 2016) held in dematerialised form shall be eligible for trading on the stock exchanges... from August 29, 2016 (Monday),” the central bank said in a statement.

  • Aimed at providing an alternative to buying physical gold, the gold bond scheme offers investors a choice to buy bonds worth 2 grams of gold going up to a maximum of 500 grams.
  • Tenure of the bond is eight years with an exit option from 5th year to be exercised on the interest payment dates.
  • Minimum investment in the bond is 2 grams with a maximum buying limit of 500 grams per person per fiscal year (April—March). 


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