gold

Centre fixes price for Sovereign Gold Bonds at Rs.3,443 per gram

The union government fixed the price at Rs 3,443 per gram for the new series of sovereign gold bonds (SGBs).
RBI decided to allow a discount of Rs 50 per gram from the issue price to those investors who apply online.
The payment is made through digital mode,
The issue price of gold bond will be Rs 3,393 per gram of gold.
The Reserve Bank of India announced the calendar for issuance of SGB for the first half of the current financial year.
The bonds issued every month from June 2019 to September 2019
The sovereign gold bond scheme launched in November 2015
The main objective to reduce the demand for physical gold and shift a part of the domestic savings.
It is used for financial savings.
The minimum investment in the bonds is one gram with a maximum limit of subscription of 500 gram per person per fiscal year (April-March).
The maximum limit of subscription is 4 kg for an individual.
The Hindu Undivided Family (HUF) for 20 kg for trusts and similar entities per fiscal (April-March).

About RBI 
Headquarters: Mumbai, Maharashtra, India
Established    1 April 1935
Governor    Shaktikanta Das

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