"We are working on that (SGB). Hopefully, it should hit the market by end of next month," Reserve Bank of India Deputy Governor H R Khan told reporters here today.
SGB, which is aimed at reducing the demand for physical gold, has not been receiving good response from investors and the government has been trying to improve the scheme to make it more attractive.
There were some issues with regard to demat of the gold bonds which were being resolved, Khan said.
The third tranche of SGB, which was launched on March 8, received a lukewarm response with the government getting a subscription for 1,128 kg gold, amounting to Rs 329 crore - less than the half it got in the previous round. There were around 64,000 applicants.
In the second tranche (January 18 to 22), about 3.16 lakh applications were accepted for a total subscription of 2,872.3 kg of gold amounting to Rs 746.80 crore.
During the first tranche issued in November 2015, 62,169 applications were accepted for a total subscription of 915.95 kgs amounting to Rs 246.20 crore by banks and post offices.
The SGB scheme was launched in November, 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings used for purchase of gold, into financial savings.
Earlier in the month, Economic Affairs Secretary Shaktikanta Das reviewed the progress of the gold bond scheme as well as the gold monetisation scheme.
It was decided to ask the banks to put concerted efforts to market the twin gold schemes with a view to help the government to achieve the objectives of the schemes.