Applications for the bond will be accepted from November 5 to November 20, 2015
The government will issue sovereign gold bonds from November 26, offering an annual interest rate of 2.75 per cent to domestic investors.
New Delhi: The government will issue sovereign gold bonds from November 26, offering an annual interest rate of 2.75 per cent to domestic investors. These bonds will be sold through banks and designated post offices. The minimum permissible investment will be two grams of gold. Sovereign gold bond has been launched with the intention to prevent people from buying physical gold for investment purpose. It is estimated that Indians buy around 300 tons of physical bars and coins every year for investment purpose.
The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year. In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only. The applications for the bond will be accepted from November 5 to November 20, 2015.
( Source : deccan chronicle )
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