Govt fixes sovereign gold bond rate at Rs 3,146/gram
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Govt fixes sovereign gold bond rate at Rs 3,146/gram

The government has fixed the price at Rs 3,146 per gram for the new series of sovereign gold bonds (SGBs) opening Monday. The Government of India in consultation with the RBI has decided to allow a discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode, a Finance Ministry statement said. For such investors the issue price of Gold Bond will be Rs 3,096 per gram of gold, it said. The Sovereign Gold Bonds would be issued every month from October 2018 to February 2019 as per the calendar specified, the RBI had said in a release earlier this week. The bonds would be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and stock exchanges -- National Stock Exchange and BSE. The first tranche of the scheme would be open for subscription from October 15-19 and the bonds would be issued on October 23. The next tranche would be open from November 5-9 and issuance would be on ...

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