This gold bond scheme of RBI has given bumper returns to investors. The name of this scheme is Sovereign Gold Scheme. In such a situation, customers want the government to redeem the money from Sovereign Gold Bond soon. Because it has given bumper returns of 160 percent to investors in the last 8 years.
There are many such government schemes
The government keeps launching many schemes to increase the income of the people, today we are going to tell you about one such scheme, in which investors invested a lot of money and now their money has doubled. The name of this scheme is Sovereign Gold Scheme. These days the prices of physical gold are continuously falling. In such a situation, customers want the government to redeem the money from Sovereign Gold Bond soon. Because it has given bumper returns of 160 percent to investors in the last 8 years.
Former Union Minister Arun Jaitley had started this scheme.
Series-3 of this gold bond of 2016-17 has doubled the investors’ money in the last 8 years. But even after more than half of the current financial year has passed, investors have not been able to withdraw money from the bonds. The Reserve Bank of India i.e. RBI had fixed November 16 as the date for redemption from bonds. RBI also told how much money investors will get per gram. However, not a single installment has been released to the investors.
999 gold standard of purity
The last tranche of sovereign gold bonds was issued in the last financial year. Investors last redeemed bonds due 2023-24 on February 21. Under this scheme, the government has so far spent a total of Rs 250 crore. Rs 72,274 crore has been raised and a total of 67 tranches have been released. Sovereign Gold Bond Price RBI where gold price is locked in 3 days. Makes decisions according to his average. For this, Bank India takes the help of the report of Bullion and Jewelers Association Limited and determines the price considering gold of 999 purity as the standard.
What is Sovereign Gold Bond?
Sovereign Gold Bond is a type of certificate, which is issued by RBI. In this, investors invest according to grams of gold. In this scheme, you not only get the market price of gold on maturity, but also get 2.5 percent annual interest on the investment. This amount of interest is given on the basis of every 6 months, the government is delaying in disclosing it. People considered this scheme as gold and invested heavily in it.
