The Government opens a Sovereign Gold Bond Scheme on 24 October 2016 to 2 November 2016. The government will provided a discount facility of Rs. 50 per gram on the purchase of gold and the bonds will be provided at lowest price of Rs. 2,957 per gram of gold.
The people of India purchase gold on the occasion of Dhanteras because they believe that gold is propitious for them on this moment. The government and Reserve Bank of India has decided to provide a discount for the customers who purchase the gold and the amount of discount is Rs. 50 per gram gold.
The interest rate on these bonds is down to 2.5% according to the 5 previous years tranches. The payment should be made through cash or cheque or demand draft or or electronic banking on these bonds.
On the issue of bonds the prices has been fixed of Rs. 2,957 per gram of gold.
The total value of the gold bonds of Rs. 3,060 crore in the 5 tranches of this scheme and the Reserve Bank of India issued the bonds for the investors.
In this scheme the amount of investment has been fixed one person can only purchase 500 gram gold bonds.
The investors directly invest their money in the these bonds and easily get benefits of this scheme.
The people of India love the gold and they always want to buy the gold for two reasons the first reason is investment and the second reason is jewellery.