Sovereign Gold Bond: Interest Rate Lowered to 2.5%pa
The Reserve Bank of India (RBI) had fixed the issue price of sovereign gold bonds (SGB) at Rs2,957/gram (gm) for the sixth tranche of subscription (from 24th October to 2nd November). It was touted as the lowest subscription price in the current financial year, i.e., 2016-17. To make the scheme attractive, government decided to offer Rs50/gm discount (Rs3,007 minus Rs50 = Rs2,957) which is...
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