Current Context: Reserve Bank of India has launched Sovereign Gold Bond Scheme for 2020-2021. The Bonds will be issued in six tranches from April 2020 to September 2020.
- The schemes describes the assured return of 2.5 per cent to investors along with appreciation in the price of the bond in line with movement of gold prices.
- The selling of the bonds will take place through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
- The sovereign gold bonds will be denominated in multiples of grams of gold with a basic unit of 1 gram with tenor of the bond 8 years with exit option after 5 years to be exercised on the interest payment dates.
- What are Sovereign Gold Bond (SGB)? : The SGBs are government securities in the form of Gold (in grams). In order to buy this, investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. These bonds are issued by Reserve Bank on behalf of Government of India.
Static Part:
- HQ of RBI: Mumbai
- Governor of RBI: Shaktikanta Das
Questions:
Q.1 What is the tenor of the sovereign gold bond scheme 2020-21 launched by RBI?
a. 7 Years
b. 9 Years
c. 5 Years
d. 8 Years
Q.2 How much return has been offered by RBI on sovereign gold bond scheme 2020-21?
a. 2.5%
b. 2.8%
c. 3.0%
d. 3.5%
a. 7 Years
b. 9 Years
c. 5 Years
d. 8 Years
Q.2 How much return has been offered by RBI on sovereign gold bond scheme 2020-21?
a. 2.5%
b. 2.8%
c. 3.0%
d. 3.5%
