Government To Issue Sovereign Gold Bonds With Interest Rate Of 2.5%
New Delhi
The government will issue sovereign gold bonds from April onward offering an annual interest rate of 2.50 percent to domestic investors, a government statement said on Monday.
The bonds will be issued in six tranches until September, and will be sold through banks and designated post offices as part of the government's market-borrowing program.
The bonds will have a tenor of eight years but investors will have the option to exit after the fifth year.
The country's gold imports have plunged more than 73 percent year-on-year in March as record prices and the lockdown related to coronavirus squeezed retail demand.
Tranche Date of Subscription Date of Issuance
2020-21 Series I April 20-24, 2020 April 28, 2020
2020-21 Series II May 11-15, 2020 May 19, 2020
2020-21 Series III June 08-12, 2020 June 16, 2020
2020-21 Series IV July 06-10, 2020 July 14, 2020
2020-21 Series V August 03-07, 2020 August 11, 2020
2020-21 Series VI Aug.31-Sept.04, 2020 September 08, 2020
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