GoI to launch the next sovereign gold bonds scheme tranche on April 24

Mumbai-India (April 23)  The GoI is set to launch the next tranche of sovereign gold bonds on April 24, which is also the first this fiscal, with offering 2.5% tax-free annual interest to investors.

Bond applications will be accepted by the government between the period of April 24 to April 28. The eligible applicants will be issued bonds on May 12.  

Interest payable semi-annually on the nominal value of the investment will be given to the investors.

In 2015, Prime Minister, Narendra Modi, had launched gold monetisation scheme, Indian gold coin and the sovereign gold bond to dampen gold imports. The government intends to raise as much as Rs 5,000 crore through these schemes.

Spource: HFL