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The Modi Government will issue the fifth tranche of sovereign gold bonds on September 23.
The bonds will be sold through banks, Stock Holding Corporation of India, designated post offices and recognised stock exchanges (NSE and BSE), an official release said.
Applications for the bonds will be accepted during September 1-9, the release added.
During 2015-16 and 2016-17 (so far), the Centre has issued gold bonds in four tranches. The total subscription in the four tranches stood at about ₹2,237 crore, corresponding to 7.85 tonnes of gold.
After the 2015-16 Budget announcement, the sovereign gold bond (SGB) scheme was launched in November 2015 as an alternative to physical gold.
The aim of this scheme is to reduce demand, including through imports, for physical gold, and in the process reduce India’s current account deficit.
Three tranches of the SGB scheme were floated in 2015-16. This financial year too, from July 18-22, the government in consultation with RBI had launched the fourth tranche of SGB.
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