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Sovereign Gold Bond 2016 â€“ Series II: Issue Price

India Blooms News Service | | Mar 07, 2016, at 09:10 pm

#Sovereign Gold Bond 2016

Mumbai, Mar 7 (IBNS) The Reserve Bank of India (RBI), in consultation with the Government of India, has decided to issue third tranche of Sovereign Gold Bonds, which will be open for subscription from Tuesday.

The subscription will be open from March 8 to 14, 2016.

The issue price of the Sovereign Gold Bond for the third tranche has been fixed at rupees two thousand nine hundred sixteen only per gram of gold.

The rate has been fixed on the basis of simple average of closing price for gold of 999 purity for the week extending from February 29, 2016 to March 4, 2016 and published by the India Bullion and Jewellers Association Ltd (IBJA).

The Bonds will be issued on March 29, 2016.

The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL) and designated post offices.

The borrowing through issuance of the Bond will form part of market borrowing programme of the Government of India.

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