NDA Government announces third round of Gold Bond Scheme Friday March 04,2016

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.