Current Affairs - Economy - Discussion

The government fixed the price of the new series of Sovereign Gold Bonds (SGBs) at Rs 3,443 per gram opening July 8, 2019. In consultation with the Reserve Bank of India (RBI), the Centre decided to allow a discount of Rs 50 per gram from the issue price (Rs 3,393 per gram) to those investors who apply online and if the payment is made through digital mode. SGBs will be issued every month from June 2019 to September 2019. Under SGB scheme, launched in November 2015, bonds are denominated in units of one gram of gold and multiples thereof. Minimum Investment in bonds is 1 gram and a maximum limit of subscription of 500 gram/person/fiscal year (April-March). Maximum Limit of subscription is 4 kg for an individual and Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities per fiscal.