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Tuesday, 11 July 2017

Finance Ministry launched next gold bond tranche


The next tranche of sovereign gold bond (SGB) scheme was launched recently by the Government. This time, providing a 2.5 percent annual interest to investors. The bonds will be available in banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges namely National Stock Exchange of India Limited(NSE) and Bombay Stock Exchange(BSE).

Finance Ministry has announced the sixth tranche of gold bonds applications for which will be accepted from July 10 to July 14, 2017, according to the finance ministry. The bonds will be issued to eligible applicants on July 28. The investors will get the interest payable semi-annually on the nominal value of the investment. 

The minimum investment will be 1 gram of gold. The maximum limit can be subscribed up to 500 grams per person per fiscal year. A self-declaration to this effect will be obtained. Payment options available are cash payment (up to a maximum of Rs 20,000) or demand draft or cheque or electronic banking.

Important Takeaways from Above News-
  • Shri Arun Jaitley is the present Finance Minister of India.

Source- The Financial Express

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