The NDA Govt announced that the application window for the third
tranche of the Sovereign Gold Bond (SGB) scheme will be March 8-14, 2016 and
the bonds issued on March 29,2016
The first tranche of
the scheme, unveiled in November 2015, attracted 62,169 applications for
915.9 kg of gold worth Rs. 246.2 crore. This subdued performance
prompted the government to tweak the scheme’s rules to make it easier to
buy the bonds.
The second tranche, which opened in
January 2016, met with greater success, attracting 3.16 lakh
applications for 2,790 kg of gold worth Rs.726 crore.
“The
Government of India, in consultation with the Reserve Bank of India,
has decided to issue third tranche of SGB. Applications for the bond
will be accepted from March 8, 2016 to March 14, 2016. The Bonds will be
issued on March 29, 2016.
The Bonds will be sold
through banks, Stock Holding Corporation of India Ltd. (SHCIL) and
designated Post Offices,” according to a statement from the government
on Friday March 04,2016,2016
The announcement of the third tranche of
the scheme comes at a time when gold prices are rallying—the yellow
metal opened on Thursday in Mumbai at Rs.29,195 per 10 grams of 995
purity, its highest price since May 14, 2014.
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