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Government to issue Sovereign Gold Bonds with effect from 26th November, 2015; Bonds to be sold through banks and designated post offices

Dated:- 30-10-2015 - Government of India, in consultation with Reserve Bank of India (RB), has decided to issue Sovereign Gold Bonds. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to .....

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e Minister had announced in Union Budget 2015-16 about developing a financial asset, Sovereign Gold Bond, as an alternative to purchasing metal gold. The major features of the Bond are given below: Sl. No. Item Details 1 Product name Sovereign Gold B .....

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mination The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. 5 Tenor The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates. 6 Minimum .....

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obtained. 8 Joint holder In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only. 9 Frequency The Bonds will be issued in tranches. Each tranche will be kept open for a period to be notified. The issua .....

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and Jewellers Association Ltd. (IBJA). 11 Payment option Payment for the Bonds will be through electronic funds transfer/cash payment/ cheque/ demand draft. 12 Issuance form Government of India Stock under GS Act, 2006. The investors will be issued a .....

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hed by IBJA. 14 Sales channel Bonds will be sold through banks and designated Post Offices, as may be notified, either directly or through agents. 15 Interest rate The investors will be compensated at a fixed rate of 2.75 per cent per annum payable s .....

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