SBT to accept gold bond papers

All branches of State Bank of Travancore (SBT) have started accepting applications for the second tranche of sovereign gold bonds being issued by the Reserve Bank. Applications for the bonds will be accepted from January 18 to January 22. The bonds will be issued on February 8. Minimum subscription amount is the rupee equivalent of two grams and the maximum is 500 grams. The rate fixed by the government is ₹2,600 per gram. The rate of interest on the investment will be 2.75 per cent a year, payable half yearly on the initial value of investment.