Govt to decide on sovereign gold bond scheme continuation in September

Recently, SGB investors have expressed concerns due to market fluctuations and the government's decision to lower the customs duty on gold which may result in reduced returns on their investments

The government will take a call on whether to continue the Sovereign Gold Bond (SGB) scheme in September, which coincides with the borrowing calendar discussions with the Reserve Bank of India (RBI), a senior government official said, requesting anonymity.   

“A view on continuing SGB is likely to coincide with the RBI borrowing meeting in September. We see SGB not as a social security scheme, but as an investment option. Also, the government is not looking for an alternative to the gold bond scheme for now,” the official said. 

The perspective aligns with the Union Budget’s decision