Govt to issue sovereign gold bonds from Nov 26
Updated: Oct 31, 2015 01:00:59pm
New Delhi, Oct 31 (KNN) The government in consultation with Reserve Bank of India (RBI) has decided to issue sovereign gold bonds from November 26, 2015.
“The bonds will be sold through banks and designated post offices. The borrowing through issuance of the Bond will form part of government’s market borrowing programme,” said the Ministry of Finance on Friday.
Issuance, eligibility, denomination, tenor, maximum limit, minimum size, joint holder, frequency and sales channels are some of the main features of sovereign gold bond.
The Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, sovereign gold bond, as an alternative to purchasing metal gold.
Applications for the bond will be accepted from November 05, 2015 to November 20, 2015, said the ministry. (KNN Bureau)
“The bonds will be sold through banks and designated post offices. The borrowing through issuance of the Bond will form part of government’s market borrowing programme,” said the Ministry of Finance on Friday.
Issuance, eligibility, denomination, tenor, maximum limit, minimum size, joint holder, frequency and sales channels are some of the main features of sovereign gold bond.
The Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, sovereign gold bond, as an alternative to purchasing metal gold.
Applications for the bond will be accepted from November 05, 2015 to November 20, 2015, said the ministry. (KNN Bureau)
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