Live
- Justice Manoj Kumar Tiwari appointed Acting Chief Justice of Uttarakhand HC
- PM Modi lays foundation stones of Maha projects, says Haryana results exposed Congress
- Durga Puja 2024: Heartfelt Wishes, Quotes, Messages, and WhatsApp Status for Family and Friends
- Durga Puja 2024: Shubho Pujo Messages, Quotes, and Status to Share with Family and Friends
- Maha Navami 2024: Date, Rituals, Puja Muhurat, and Spiritual Significance of Navratri’s Ninth Day
- Hina Khan Apologises to Masaba Gupta for Wearing Sneakers with Saree Due to Neuropathic Pain, Fans Praise Her Style
- Dussehra 2024: Is Vijayadashmi on October 12 or 13? Correct Date, Tithi, Muhurat, and Significance Revealed
- Some NBFCs not pursuing strong underwriting for high growth: RBI Governor
- Two goes missing in a canal at Kavvagunta in Eluru, search operation started
- Rising consumption, robust investment demand to boost India's GDP: Shaktikanta Das
Gold Bond Scheme
Gold imports more than doubled to $3.80 billion in December, driven by dip in global prices. In December 2014, gold imports stood at $1.36 billion, according to the Commerce Ministry. India imported 850 tonnes of gold during January—September period of 2015 as against 650 tonnes in the year ago period.
Gold imports more than doubled to $3.80 billion in December, driven by dip in global prices. In December 2014, gold imports stood at $1.36 billion, according to the Commerce Ministry. India imported 850 tonnes of gold during January—September period of 2015 as against 650 tonnes in the year ago period.
Through the second tranche of gold bond scheme launched on Monday, the government intends to mobilise Rs 15,000 crore from sovereign gold bond scheme. Aimed at curbing demand for physical gold, the government could mobilise Rs 246 crore from the scheme in the first tranche that closed on November 30.
The gold bonds are issued in denominations of 5 grams, 10 grams, 50 grams and 100 grams for a term of 5-7 years with a rate of interest to be calculated on the value of the metal at the time of investment. The Gold Bond Scheme will have an annual cap of 500 grams per person. India imports about 1,000 tonnes of gold every year and the precious metal is the second-highest constituent of the import bill after crude oil.
The quantity of gold for which the investor pays is protected, since he receives the ongoing market price at the time of redemption/ premature redemption. Investors are assured of the market value of gold at the time of maturity and periodical interest. SGB is free from issues like making charges and purity in the case of gold in jewellery form.
The bonds are held in the books of the RBI or in demat form eliminating risk of loss of scrip etc. There may be a risk of capital loss if the market price of gold declines. However, the investor does not lose in terms of the units of gold which he has paid for. Joint holding is allowed. Minimum investment in the Bond shall be two grams with a maximum buying limit of 500 grams per person per fiscal year (April – March).
In case of joint holding, the limit applies to the first applicant. One can buy 500 grams worth of gold every year as the ceiling has been fixed on a fiscal year (April-March) basis. The gold bond gives a better return than the physical gold as it gives interest as well. You would always get 100% pure gold bond, which will give you 100% value, always.
