Sovereign Gold Bond Series VII opens on Monday | Check issue price, subscription, other details
Business | October 25, 2021 14:59 ISTUnder the Sovereign gold bond Series, bonds were issued in six tranches from May 2021 to September 2021.
Under the Sovereign gold bond Series, bonds were issued in six tranches from May 2021 to September 2021.
Sovereign Gold Bonds are government-backed securities denominated in grams of gold. They are substitutes for holding physical gold.
The bonds will be sold through banks (except small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and BSE.
A total of Rs 25,702 crore has been raised through the Sovereign Gold Bond (SGB) Scheme since its inception till end-March, according to the RBI annual report released on Thursday.
The Reserve Bank of India will issue Sovereign Gold Bonds on behalf of the Government of India.
Investment in gold with a long-term perspective gives a better return than any traditional form of investment options like FDs and RDs.
Sovereign Gold Bonds, SGB March 2021 Price: The RBI issues SGB on behalf of the government. The government offers Rs 50 discount per gram to customers who apply online.
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