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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.
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