Indicating increased popularity of the government’s schemes to mobilise idle gold deposits with households, the second tranche of the Sovereign Gold Bond Scheme has received about 3.16 lakh applications for 2,790 kg gold involving subscription of ₹726 crore.
“Second tranche of Gold Bonds: Outcome significantly better than 1st tranche. Scheme picking up,” Economic Affairs Secretary Shakitkanta Das tweeted on Thursday.
The Finance Ministry, in a release said, the trend during the second tranche shows that the scheme is picking-up amongst the investors with higher awareness and more clarity about the provisions.
Under the scheme, individuals can invest in bonds of up to 500 gram of gold annually and earn interest on it. For 2015-16, the government has fixed a return of 2.75 per annum, payable on half yearly basis.
“These bonds will be issued on February 8, 2016,” it said, adding that the actual figure may vary as more information is received from all the authorised receiving agencies.
The first tranche in November received about 62,169 applications for a total of ₹ 246.2 crore for 915.953 kg of gold.
The government has also received over 900 kg of gold in the related gold monetisation scheme.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.