Question
Consider the following statements regarding the
Sovereign Gold Bond Scheme- I.Sovereign Gold Bonds are the government securities denominated in grams of gold and they are issued by the RBI on behalf of the government to reduce the demand for physical gold, the sovereign gold bond scheme was launched in November ,2016. II. The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates. III.The maximum limit of subscription shall be 4 Kg for individual, 4 Kg for HUF and 20 Kg for trus Which of the above statements is/are true ?Solution
Sovereign Gold Bonds are the government securities denominated in grams of gold and they are issued by the RBI on behalf of the government to reduce the demand for physical gold, the sovereign gold bond scheme was launched in November 2015. To buy the gold bonds, the investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. ·     The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. ·     The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates. ·     Minimum permissible investment will be 1 gram of gold. The maximum limit of subscription shall be 4 Kg for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) year
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