Sovereign Gold Bond scheme opened for subscription
The fourth tranche of the Sovereign Gold Bonds scheme has opened for subscription through which the government aims to attract a large number of investors to curb the demand for physical gold that is imported in large quantities draining the country’s foreign exchange. The first three tranches had attracted an investment of Rs.1,318 crore, equivalent to 4.9 tonnes of gold at the prices prevailing at those times. With the added features, it is expected that the fourth tranche of SGB would garner much higher investment.
The bond can be purchased from the National Stock Exchange and Bombay Stock Exchange, besides all Bank branches, select Post Offices and the Stock Holding Corporation of India Limited. The government had fixed 3,119 rupees per gram as the issue price of the bond. An investor can invest for a minimum unit of one gram and a maximum of 500 grams. The subscription is open till July 22. Earlier, the minimum denomination was 5 gram.
So let's discuss some questions related to this post:
1. Name the gold bond scheme which has been reopened for the subscription?
2. An investor can invest how much minimum and maximum unit of gold under the Sovereign Gold Bond scheme?