Central government issue of third phase gold bonds

The Ministry of Finance has also informed that the third phase of gold bonds for the current financial year will be released from 18th to 22nd of this month. It also said that the fourth phase of gold bonds will be issued from 12th to 16th February next year.

Gold bond.

At present gold bonds are issued in December and February

The Central Government announced the Gold Savings Bond Scheme in November 2015 as part of a move to reduce gold imports.

Reserve Bank issued gold bonds on behalf of the central government coming, In this, gold can be stored in document form. One gram of gold is given as one unit.

In the current financial year, from 19th to 23rd June last, first phase gold bonds; From 11th to 15th September, the second phase of gold bonds was also issued.

In this case, the third phase of gold bonds from the 18th to the 22nd; From 12th to 16th February next year, the fourth phase of gold bonds will also be issued.

Each time, the average price of 24 carat gold for the last three days of the week preceding the issue of the gold bond is determined.

Investments in these gold bonds can be made through public sector and private banks, post offices, National Stock Exchange and Mumbai Stock Exchange.

50 rupees discount per gram if purchased online. Also, interest will be paid biannually at a fixed rate of 2.50 percent.

An individual can invest up to a maximum of four kilos per annum and organizations such as trusts can invest up to 20 kilos. Gold bonds have a maturity of eight years. However, after completion of five years, the investment can be withdrawn before maturity.