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Sovereign Gold Bond Scheme 2021-22

  • IASbaba
  • May 15, 2021
  • 0
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Sovereign Gold Bond Scheme 2021-22

Part of: GS Prelims and GS – III – Economy

In news

  • The Central Government in consultation with the RBI, has decided to issue Sovereign Gold Bonds.

Key takeaways

  • The Sovereign Gold Bonds will be issued in six tranches from 17th May to September 2021.
  • The Bonds will be sold through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL),designated post offices, and National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
  • The minimum permissible investment will be one gram of gold.
  • Investors will be compensated at a fixed rate of 2.50% per annum payable semi-annually on the nominal value.
  • The Bonds will be restricted for sale to resident individuals, Hindu Undivided Families, Trusts, Universities and Charitable Institutions.
  • The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates.

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