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Sovereign gold bonds worth Rs 5,400 crore issued so far, says RBI

Bonds are govt securities denominated in grams of gold

Press Trust of India  |  Mumbai 

Sovereign gold bonds worth Rs 5,400 crore issued so far, says RBI

Sovereign (SGBs) worth Rs 5,400 crore have been issued in eight tranches till date, the of said on Friday.

Investors in these bonds, launched in November 2015, have been provided with the option of holding them in physical or dematerialised form.


"The Reserve of India, in consultation with the of India, has issued eight tranches of sovereign for a total value of Rs 5,400 crore till date," the central said in a statement.

Against the target of raising Rs 15,000 crore through issue of in the first year alone, the proceeds in 19 months total up to only Rs 5,400 crore.

The bonds are securities denominated in grams of gold. The bond is issued by Reserve on behalf of the

The had come out with the scheme to discourage public from holding gold in physical form.

The had launched the first tranche of sovereign gold bond scheme in November 2015 for which it got subscription for 915.95 kg of gold worth Rs 246 crore.

Under the scheme, the bonds are denominated in units of one gram of gold and multiples thereof. Minimum investment in the bonds is one gram with a maximum limit of subscription of 500 grams per person per fiscal year (April-March).

The bonds issued under the eighth tranche had a maturity period of eight years.

First Published: Fri, June 09 2017. 22:25 IST
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