Sovereign Gold Bond Issue Of July To Commence Trading From Today

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The SGBs introduced by the government in the late 2015s as a drive to cut down on imports and check the gold stocking of consumers as it wishes to push for paper golf instead of physical gold, saw its quarterly tranche rolled out on July 6. And for it the RBI announced that trading in them shall begin from today. Application for the previous issue of SGBs was being accepted from July 10-14 and issuance was effected on July 28, 2017.

 Sovereign Gold Bond Issue Of July To Commence Trading From Today

"Sovereign Gold Bonds, issued on July 28, 2017, held in dematerialised form, shall be eligible for trading with effect from August 8, 2017 (Tuesday) on stock exchanges recognised by the Government of India...," the RBI said in a statement.

The bonds on sale by banks, post office, Stock Holding Corporation of India and recognized stock exchanges of NSE and BSE saw a previous mop up of a total of Rs. 5400 against government's very high estimates. These bonds can be maintained both in physical as well as demat forms.

Story first published: Tuesday, August 8, 2017, 4:37 [IST]
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