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Posted at: Oct 22, 2019, 7:14 AM; last updated: Oct 22, 2019, 7:14 AM (IST)

Govt rolls out sixth tranche of gold bonds

Govt rolls out sixth tranche of gold bonds
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New Delhi, October 21

To cash in on Dhanteras-buying spree, the government today rolled out the sixth tranche of sovereign gold bonds. The Sovereign Gold Bond (SGB) Scheme 2019-20 — Series VI will close for subscription on the day of Dhanteras that is October 25.

According to a Finance Ministry statement, the government has fixed the issue price at Rs 3,835 per gram with settlement date as October 30.

Further, the government has decided to offer a discount of Rs 50 per gram for investors applying online and making payment for the purchase of the bond through digital mode. “For such investors, the issue price of gold bond will be Rs 3,785 per gram of gold,” the Finance Ministry said.

In view of the ongoing festive season, which ends with Diwali later this month, the government issued the previous Series V of the SGB scheme earlier this month.

The scheme was launched in November 2015 to reduce demand for physical gold and shifting a part of domestic savings, used for purchase of the yellow metal, into financial savings. — PTI

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