Third tranche of gold bond scheme to be issued by Central Government
Posted on: 04/Mar/2016 10:44:25 AM
Very soon the Central Government of India will be issuing the third tranche of sovereign gold bond for the fiscal.
Earlier the Government had raised nearly Rs 1,050 crore in the first two tranches.
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.
Maximum advertising is being made to make the third tranche a success.
Under the scheme, gold bonds are issued in denominations of 5 grams, 10 grams, 50 grams and 100 grams for a term of 5-7 years with a rate of interest to be calculated on the value of the metal at the time of investment. The scheme has an annual cap of 500 grams per person.
