126% return, gold savings bond.

In 2016, the price of gold per unit was fixed at Rs 2,916, but now it has crossed Rs 6,000.

Gold bond

What is the return in gold bonds

NEW DELHI: With the second tranche of gold bonds issued in 2016 maturing today, investors who held their investments till the end stand to reap 126 per cent profit.

The central government announced the gold savings bond scheme in November 2015 as part of a move to reduce gold imports. In this, gold can be stored in document form.

1 gram of gold is given as 1 unit. In this case, the second phase of gold bonds was released in March 2016. At that time, the price of 1 gram of gold was fixed at Rs 2,916. Over the past eight years, the price of gold has risen manifold and is now trading above Rs 6,000.

In this case, the RBI has informed that the money will be paid to the gold bond investors based on the average price of 1 gram of gold of Rs 6,601. This is 126 percent higher than the price at the time of investment.

For those who invest in this scheme, interest is credited to their bank account once every six months. At maturity, the final interest is paid along with the principal amount.

Comments

At one time, the tax rate in India was 97.50

Many feel that foreign countries tax the rich very heavily and India does not. But did you know that at one time India had to pay 97.50 percent of income tax? Indira Gandhi What is the historical tax rate in India Debates such as distribution of wealth and introduction of inheritance tax have arisen and are currently being discussed in a frenzy. But, in our country, 50 years ago, maximum tax was collected up to 97.50 percent. There was such a period in India. During Indira Gandhi's tenure as Prime Minister, income tax in India was as high as 97.50 percent. However, this collection came to an end shortly after. Indira Gandhi saw taxation as an important mechanism to balance income and wealth. Based on this, in February 1970, he presented the budget in Parliament and addressed it. Social welfare was the theme of the budget. Since the green revolution was taking place, various announcements related to the agriculture sector were included in the budget. A huge sum...

Why stock market investment tips don't work in india

It is said that proper research and analysis are necessary for direct investment in stocks. However, many investors seek tips that point to stocks that can be profitable. Stock market why stock market investment tips don't work properly Although they attract recommendations to buy or sell specific stocks, they can cause problems in practice. Especially now, with the influence of social media, stock recommendations are followed by many people. Let's look at the problems in investing in stocks based on tips. Stock Guidance: It is natural to be interested in knowing stocks that can win among thousands of stocks. But finding them is difficult. That is why many people believe that investment tips will answer this. These tips do not contain investment-related guidance. New Trends: Not only stocks, but also mutual fund schemes are given tips. These are like the technology sector is the future or the pharmaceutical sector is now safe. The basics of this strategy and th...

India will be the global gold price setting body

New Delhi: India is planning to become a gold price setter, the Chamber of Commerce of India said at a gold and gemstone conference. The industry said at the event, Gold price India will emerge as a country that sets gold prices India is a global gold price s etter. Instead, it should become a gold price setter. Domestic mining will help in this. Domestic production will meet 20 percent of the country's gold demand in the next decade. Due to insufficient domestic gold production and the lack of a gold banking system, we have to depend on the London market price. In the next 2-3 years, India will emerge as the world's jewelry hub. Gold and jewelry purchases should be honest and transparent. The Indian Standards Institution plays a key role in determining the quality of gold. Similarly, the OECD and London Bullion Market Association standards can also be adopted or equivalent standards can be developed. Similarly, the ban on the export of 24-carat gold from India h...

22k jewelers

Search This Blog