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Gold Bond scheme tranche 4 to open on Monday

Centre received subscriptions of Rs 726 crore for 2,790 kg gold under the second tranche of the scheme

Policy Pulse
Publish Date: Jul 15 2016 8:47AM | Updated Date: Jul 15 2016 8:47AM

Gold Bond scheme tranche 4 to open on Monday

 The Centre has announced that the fourth tranche of its sovereign gold bond scheme will open on Monday.

 
"Applications for the bond will be accepted from July 18, 2016 to July 22, 2016. The bonds will be issued on August 5, 2016," a Finance Ministry statement said.
 
The statement further added that bonds will be sold through Stock Holding Corporation of India Ltd (SHCIL), banks, designated post offices and recognised stock exchanges.
 
Centre  received subscriptions of Rs 726 crore for 2,790 kg gold under the second tranche of the scheme in January, while the first tranche launched in November last year had received a subscription for 915.95 kg of gold worth Rs 246 crore.
 
In March, the third edition of schemereceived a poorer response getting subscription of 1,128 kg gold, amounting to Rs 329 crore.
 
Gold bonds are issued in denominations of 5 grams, 10 grams, 50 grams and 100 grams for a term of 5-7 years with a rate of interest to be calculated on the metal's value at the time of investment.