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Finance Ministry announces fresh tranche of gold bonds

Finance Ministry announces fresh tranche of gold bonds
22 October 2016 Current Affairs: Finance Ministry has announced the sixth tranche of sovereign gold bonds.

The Applications for the bonds will be accepted from October 24 to November 2.

Hoping to attract more investors, the Finance Ministry also said the issue price of the gold bonds will be ₹50 per gram less than the nominal value. Other features of the bonds remain the same. They will be be sold through banks, Stock Holding Corporation of India, designated post offices and stock exchanges.

The tenor of the bond will be for a period of eight years with exit option from the fifth year to be exercised on the interest payment dates. Minimum investment of one gram will be allowed while the maximum will be 500 gram per person per fiscal year.

In an effort to wean away investors from physical gold, the Reserve Bank of India on behalf of the Centre has already issued five tranches of sovereign gold bonds since last year.


January 2017 Current affairs
23 JAN
NEWS
21 JAN
NEWS
20 JAN
NEWS
19 JAN
NEWS
18 JAN
NEWS
17 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
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26 DEC
NEWS




November 2016 Current affairs
30 NOV
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29 NOV
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28 NOV
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25 NOV
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October 2016 Current affairs
31 OCT
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26 OCT
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24 OCT
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September 2016 Current affairs
30 SEP
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29 SEP
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28 SEP
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27 SEP
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26 SEP
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24 SEP
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