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Union Government manages to augment Rs 1,400 cr via gold bonds
Posted on: 18/Mar/2016 11:12:21 AM
Government of India has launched the Sovereign gold bond (SGB) scheme as an alternate investment form to physical gold. Investors will get returns based on the prevailing gold price. Since this is a bond, it can be held in demat or physical paper form.
The government had launched the first tranche of sovereign gold bond scheme in November for which it got subscription for 915.95 kg of gold worth Rs 246 crore. In January, it came out with the second tranche and received subscription for 3,071 kg gold amounting to Rs 798 crore.
Later on the government said it will launch the third tranche of the gold bond scheme, through which it has raised about Rs 1,050 crore in the earlier rounds.
Now the Centre has managed to raise just Rs 1,400 crore through the sovereign gold bonds or only 9 per cent of the target of Rs 15,000 crore in the current fiscal year. The third and final tranche of the bonds fetched about Rs 400 crore in March 8-14 as against Rs 1,050 crore in second tranche in January and Rs 246 crore in November.
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