The Centre's Sovereign Gold Bonds (SGB) scheme has garnered Rs 1,085 in its sixth tranche. The Central Bank said in a statement, that in consultation with the Government of India, the SGBs scheme has garnered a total amount valued at Rs 4,145.
In Sovereign Gold Bond scheme the investor is being provided with the option of holding them in physical or dematerialised form. Till now, the government has mobilized Rs 3,060 crore in five tranches. On behalf of the Government of India, RBI issues these bonds for the investor.
A statement from RBI said that the request for the dematerialisation has been processed successfully. But a set of records which cannot be processed due to incorrect & false information and other reasons such as mismatches in names and PAN numbers, inactive or closed demand accounts, it said. The central bank said that the Sovereign Gold Bonds scheme will be served regularly and will be held in the books of RBI.
The Sovereign Gold Bond scheme was a central initiative which took off in November 2015. It was for the investors who wanted to invest in the yellow metal without holding it physically. The bonds can be purchased through Banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and stock exchanges NSE and BSE.
Also, read:
Post-demonetisation Gold imports steep down sharply
Tata motors cut costs via Voluntary retirement schemes (VRS)
Commerce Minister to launch TIES scheme for Export Infrastructure