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Government launches sovereign gold bond scheme (2017-18) – Series-III
October 9 , 2017
2456 days
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- The Union Government in consultation with Reserve Bank of India (RBI) has launched Sovereign Gold Bonds 2017-18 – Series-III.
- The bonds will be sold through banks, Stock Holding Corporation of India Limited, designated post offices and recognised stock exchanges namely the NSE and BSE
- These bonds were launched under the umbrella sovereign gold bond scheme in November 2015 with an objective to reduce demand for physical gold and shift part of domestic savings, used for purchase of gold, into financial savings.
- It also aims to ease pressure on the country’s trade balance as India’s imports are dominated by crude oil and gold by converting gold into a productive asset
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