The government of India has launches the Series II of Sovereign Gold Bonds (SGB) scheme opened for subscription. Sovereign Gold Bonds will be issued every month from October 2018 to February 2019 as per the calendar specified in five tranches.
The first tranche of the scheme which opened today would be open for subscription till October 19 and the bonds would be issued on October 23.
The next tranche would be open from November 5-9 and issuance would be on November 13. The next one would be available for subscription from December 24-28 and the bonds would be issued on January 1, 2019.
Another tranche would open for subscription from January 14-18 and the issuance of bonds would be on January 22. The final one would be from February 4-8 and those would be issued on February 12.
For the current fiscal, the first tranche of the sovereign gold bond (SGB) and its subscription opened on April 16.
The government has fixed issue price of the scheme at Rs 3,146 per gram of gold. The bonds would be issued on October 23, 2018. The price for 24 carat gold in open markets stood at Rs 32,810 for 10 grams of yellow metal. Here’ s a look at some key facts about the scheme.