Bank Employees News: SHCIL

Friday, 15 July 2016

SHCIL 22:53

Gold Monetisation Scheme:Sovereign Gold Bond Scheme 2016 -17 – Series I to open on July 18

Gold Monetisation Scheme:Sovereign Gold Bond Scheme 2016 -17 – Series I to open on July 18

The Reserve Bank of India, in consultation with the Government of India, has decided to issue fourth tranche of Sovereign Gold Bonds. Applications for the bond will be accepted from July 18, 2016 to July 22, 2016. The Bonds will be issued on August 5, 2016. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.

It may be recalled that Honourable Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, Sovereign Gold Bond, as an alternative to purchasing metal gold.

Accordingly, three tranches of issuances have been undertaken during 2015-16. The features of the Bond are:

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