Sovereign Gold Bond Scheme
- On 16th April, 2020, the Government of India in consultation with the Reserve Bank of India has decided to issue Sovereign Gold Bonds.
About the SGB Scheme
- The Sovereign Gold Bond Scheme was launched under the Gold Monetisation Scheme in the year 2015.
- The Gold Monetisation Scheme was introduced to replace the existing Gold Deposit Scheme (GDS), 1999.
- The scheme facilitates the gold depositors to earn interest of 2.25% annually for a short-term deposit of one year to three years.
Aim
- To reduce the demand for physical gold and shift a part of the domestic savings used for the purchase of gold ....
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