Sovereign Gold Bond scheme opens today
December 27, 2020
Issue price fixed at ₹5,000 per gram
New series of Sovereign Gold Bond is opening for subscription on Monday. This is 6th series since first one in 2015 and issue price now is fixed at ₹5,000 per gram — almost double than the first one.
Though, as experts say, this scheme has proved to be very good for the individual investor, but it may put a burden on the exchequer as the government has promised to return the principal money to the investor after eight years from date of issue at then existing (current) market price. If issue price is ₹2,500 per gram and price at the maturity is ₹5,000, that means the investor will get back his principal at later price apart from interest every year. From 42 out of 45 completed series, a total investment of ₹18,152.14 crore for over 481 lakh gm gold has been received since inception of the scheme. Data of last three series are not available.