Banking News

RBI issues second trench of Soverein Gold Bonds at ₹ 2,600/- per gram


Sovereign Gold Bonds Scheme 2016
Applications for the second trench of Soverein Gold Bonds will be accepted from January 18, 2016 to January 22, 2016, as per RBI communication. The issue price of the Bond for this tranche has been fixed at ₹ 2,600/- (Rupees Two Thousand Six Hundred only) per gram of gold. The rate has been fixed on the basis of the simple average of closing price for gold of 999 purity of the previous week (January 11-15, 2016) published by the India Bullion and Jewellers Association Ltd (IBJA). RBI source said that the Bonds will be issued on February 8, 2016.

As in the case of the earlier issue, the Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL) and designated post offices. The borrowing through issuance of the Bond will form part of market borrowing programme of the Government of India.

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