Gold bond 5th tranche in Sept

The government in consultation with the Reserve Bank of India on Tuesday decided to issue the 5th tranche of sovereign gold bonds next month.

Applications for the bonds will be accepted for nine days from September 1. The Bonds will be issued on September 23.

“The bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges such as National Stock Exchange of India and Bombay Stock Exchange,” the finance ministry said in a statement.

The bonds will be restricted for sale to resident Indian entities including individuals, Hindu undivided family, trusts, universities and charitable Institutions.

The bonds will be denominated in multiples of gram(s) of gold with a basic unit of one gram. The tenor of the bonds will be for a period of eight years with exit option from fifth year to be exercised on the interest payment dates. The minimum permissible investment is one gram gold.