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Collections under Sovereign Gold Bond Scheme Reach a New High

News and Press Release - Dated:- 1-8-2016 - The amount realised through the 4th tranche, at around ₹ 919 Crores, is the highest achieved as yet In pursuance of the announcement in Union Budget 2015-16, Sovereign Gold Bond (SGB) scheme was launched as an alternative to physical gold in Nov 2015. The aim of SGB is to reduce demand, including through imports, for physical gold, and in process reduce India s Current Account Deficit (CAD). Three tranches of SGB scheme were floated in 2015-16. T .....

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was issued in Demat/ paper form. National Stock Exchange and Bombay Stock Exchange were notified as additional receiving offices. Trading of Gold Bonds was also operationalised. The issue price of the Sovereign Gold Bond in 4th tranche was fixed at ₹ 3,119 per gram of gold based on the basis of simple average of closing price of gold of 999 purity for the week July 11 to 15, 2016 as published by the India Bullion and Jewellers Association Ltd. (IBJA). The amount realised through the 4th tr .....

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