Showing posts with label Gold. Show all posts
Showing posts with label Gold. Show all posts

Monday, 24 April 2017

Sovereign gold bonds membership opens today, issue cost settled at Rs 2,901 for each gram

New Delhi: The main tranche of the sovereign gold bonds (SGB) opened for open membership on Monday.

The bonds will be issued on May 12. The issue cost of the bond depends on the basic normal shutting cost (distributed by the India Bullion and Jewelers Association) for gold of 999 virtue of the week going before the membership time frame.

It works out to be Rs 2,951 for every gram. In any case, the legislature, in discussion with the Reserve Bank (RBI), has chosen to offer a markdown of Rs 50 for each gram on the ostensible estimation of the Sovereign Gold Bond.

"Thus, the issue cost of gold bond for this tranche has been settled at Rs 2,901 for every gram of gold," the RBI said in a warning.

The bonds would procure an enthusiasm of 2.75 percent for each annum, payable like clockwork on introductory venture. The tenor of the bond will be for a time of 8 years with leave alternative from fifth year to be practiced on the intrigue installment dates. 

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