NEW DELHI: The government has collected Rs 31,290 crore from Sovereign Gold Bond (SGB) Scheme since its launch in 2015, Finance Minister Nirmala Sitharaman informed the Parliament on Monday. “The response of public on the SGB scheme has resulted in the collection of Rs 31,290 crore since 2015-16,” she said, in reply to a question in Lok Sabha.
The SGB Scheme was notified by the government on November 5, 2015, with the main objective to develop an alternate financial asset and as an alternative to purchasing/ holding of physical gold.These bonds are issued on payment of Indian rupees and is denominated in grams of gold. Bonds are issued on behalf of the Government of India by RBI, and have a sovereign guarantee.
The bonds are restricted for sale to resident Indian entities. The investment limits are presently 4 kg per fiscal year, for individuals and Hindu Undivided Family (HUF) and 20 kg per fiscal year for trusts and similar entities. The ceiling will be counted on financial year basis and will include the SGBs purchased during the trading in the secondary market.
Meanwhile, the Sovereign Gold Bond Scheme 2021-22 Series V or the fifth tranche opened for subscription from Monday till August 13 with a settlement date of August 17, 2021. The issue price of the bond during the subscription period has been fixed at Rs 4,790 per gram.