MANU/RPRL/0182/2015
Ministry : Reserve Bank of India
Department/Board : RBI
Press Release No. : 2015-2016/1047
Date : 30.10.2015
Sovereign Gold Bond 2015-16
The Reserve Bank of India, in consultation with Government of India, 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 November 20, 2015. The Bonds will be sold through banks and designated post offices as may be notified. The borrowing through issuance of the Bond will form part of market borrowing programme of Government of India.
It may be recalled that Honourable Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, Sovereign Gold Bond, as an alternative to purchasing metal gold. The features of the Bond are given below:
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Sl.No.
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Item
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Details
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1.
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Product name
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Sovereign Gold Bond
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2.
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Issuance
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To be issued by Reserve Bank India on behalf of the Government of India.
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3.
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Eligibility
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The Bonds will be restricted for sale to resident Indian entities including individuals, HU Fs, trusts, Universities, charitable institutions.
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4.
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Denomination
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