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SGB Gold Bond
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are issued by the Reserve Bank of India (RBI) on behalf of the Government of India. SGBs offer a way for individuals to invest in gold without the need to hold physical gold. Here are some key points about Sovereign Gold Bonds in India:
Objective
SGBs aim to reduce the demand for physical gold and shift a part of the domestic savings used for the purchase of gold into financial savings.
Interest
SGBs offer a fixed interest rate on the initial investment amount. The interest is paid semi-annually and is taxable as per the income tax laws in India.
Tenure
SGBs have a maturity period of eight years, with an option to exit after the fifth year on interest payment dates.
Issuance
SGBs are issued periodically by the RBI through scheduled commercial banks, designated post offices, and recognized stock exchanges like the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Subscription Price
The price of SGBs is linked to the prevailing market price of gold and is announced by the RBI before each tranche. Investors can subscribe