Sovereign Gold Bonds (SGB) are open for subscription until September 15th, marking the second series of the scheme for the fiscal year 2023-24.
- The Reserve Bank of India (RBI) has set the price of the gold bonds at 5,923 rupees per gram.
- Online applicants will receive a discount of 50 rupees per gram less than the nominal value when paying digitally, making the issue price for online investors 5,873 rupees per gram.
- The minimum investment allowed in a gold bond is one gram, while the maximum subscription limit is set at 4 kg for individuals and 20 kg for trusts and similar entities per fiscal year.
- SGB offers a safer alternative to physical gold and an additional income source, making it an attractive investment option.
- The Sovereign Gold Bond Scheme was initiated by the government in November 2015, under the Gold Monetisation Scheme.
Q.: Which government scheme introduced the Sovereign Gold Bond Scheme in November 2015?
a) Gold Reserve Scheme
b) Gold Monetisation Scheme
c) Gold Investment Initiative
d) Gold Security Program
Ans : b) Gold Monetisation Scheme