Banking News

Sovereign Gold Bond Scheme 2017-18 – Series II open

The Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 – Series II  from July 10, 2017. Applications for the bond will be accepted from July 10-14, 2017. The Bonds will be issued on July 28, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated Post Offices, and recognised Stock Exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.
Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
Interest rate 2.50 percent per annum payable semi annually on the nominal value.

According to RBI notification, the average closing price (published by IBJA) for gold of 999 purity of the week preceeding subscription period  works out to Rs.2830/- per gram. Hence, the issue price of Gold Bond for this tranche has been fixed at Rs.2780/- per gram.

Click here to know the advantages and the features of the Bond

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