For Quick Alerts
For Daily Alerts

Sovereign Gold Bond Scheme Opens For Second Tranche


The Reserve Bank of India will issue the second tranche of Sovereign Gold Bonds from today.

Applications for the bond will be accepted from January 18, 2016 to January 22, 2016. The Bonds will be issued on February 8, 2016, the RBI said.

Sovereign Gold Bond Scheme Opens For Second Tranche

The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL) and designated post offices. The borrowing through issuance of the Bond will form part of market borrowing programme of the Government of India.

Sovereign Gold Bond, acts as an alternative to purchasing metal gold. Accordingly, the first tranche was open for subscription from November 05 to November 20, 2015.

These bonds will be issued in tranches. Each tranche will be kept open for a period to be notified.

The issue price of the Sovereign Gold Bond for this tranche has been fixed at Rs 2,600/- (Rupees Two Thousand Six Hundred only) per gram of gold.

The investors will be compensated at a fixed rate of 2.75 per cent per annum payable semi-annually on the initial value of investment.

The rate has been fixed on the basis of simple average of closing price for gold of 999 purity of the previous week (January 11-15, 2016) published by the India Bullion and Jewellers Association Ltd (IBJA).

Read more about: sovereign gold bonds
Story first published: Monday, January 18, 2016, 10:56 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more