Govt garners Rs.919 cr in fourth tranche of SGB scheme
The Dollar Business Bureau Under the fourth tranche of the Sovereign Gold Bond (SGB) scheme, the government of India has collected Rs.919 crore, the highest ever realisation till date under the SGB scheme. “The amount realised through the 4th tranche, at around Rs.919 crore, is the highest achieved as yet. The previous highest was Rs.746 crore in the 2nd tranche when the issue price was only Rs.2,600 per gram of gold. This was mobilised through over 1.95 lakh applications representing around 2.95 tonnes of gold,” a statement from the finance ministry said. In the fourth tranche of the SGB scheme, the issue price was Rs.3,119 a gram of gold. The given numbers are expected to go up as the applications submitted on the last date are ...
Sovereign Gold Bonds Scheme gets government nod
Source: PIB, Government of India The Union Cabinet chaired by the Prime Minister Narendra Modi, on Wednesday gave its approval for introduction of the Sovereign Gold Bonds Scheme, as announced in the Union Budget 2015-16. The scheme will help in reducing the demand for physical gold by shifting a part of the estimated 300 tonnes of physical bars and coins purchased every year for Investment into gold bonds. Since most of the demand for gold in India is met through imports, this scheme will, ultimately help in maintaining the country's Current Account Deficit within sustainable limits. The issuance of the Sovereign Gold Bonds will be within the government's market borrowing programme for 2015-16 and onwards. The actual amount of ...
