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The Reserve Bank of India( RBI) has started issuing the coming tranche of Sovereign Gold Bonds( SGBs) on behalf of the central government. The Sovereign Gold Bond 2022- 23 Series III tranche was opened for subscription on December 19 and will be available till December 23, i.e. Friday. The last and fourth tranche would be issued on March 14, 2023.
Read the article on how to buy sovereign gold bond
Sovereign Gold Bond( SGB) scheme was first launched in November 2015, under the government’s Gold Monetisation Scheme. Under the scheme, the issues are made open for subscription in tranches by RBI. The central bank fixes the issue price. This time, the central government has fixed the issue price at Rs,409, in discussion with the RBI. The cinch- in period for the scheme is 8 times, but exit options are available in the 5th, 6th, and 7th time, which are exercised on the interest payment dates. And the interest rate, which has been constant since its commencement, is2.5 per cent.