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RBI Launches 3rd Tranche of Gold Bonds This Year

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RBI Launches 3rd Tranche of Gold Bonds This Year
RBI will sell gold bonds -third tranche for this year-at Rs 2,956 a gram, the central bank said in a circular issued to banks on Monday.Online applicants who pay digitally will get a `50 discount per gram, it said. The sale would be open between Monday and Wednesday of every week starting from October 9 to December 27.The 2.5% interest bearing bonds, which will be sold to resident Indians -individuals, trusts as well as charitable institutions and universities, will be capped for different category of buyers.Individuals, jointly with another individual or a minor can buy up to four kgs of gold annually, the ceiling for trusts and charities is 20 kgs.The RBI has clarified that this ceiling will exclude holdings as collateral by banks and other financial institutions.

The Economic Times, New Delhi,10th October 2017

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