The government keeps launching many schemes to increase the income of the people, today we are going to tell you about one of these schemes, in which investors invested a lot of money and now their money has doubled. The name of this scheme is Sovereign Gold Scheme. These days the prices of physical gold are continuously falling. In such a situation, the customers want that the government should redeem the money of Sovereign Gold Bond soon. This is because it has given bumper returns of 160 percent to investors in the last 8 years.
Former Union Minister Arun Jaitley had launched this scheme. Series-3 of this gold bond 2016-17 has doubled the investors’ money in the last 8 years. But even after more than half of the current financial year has passed, investors are not able to redeem money from bonds. The Reserve Bank of India i.e. RBI had fixed November 16 as the date for redemption from bonds. It was also told by RBI that how much money the investors will get per gram. Still, not a single installment was released to the investors.
when did the installment come
The last installment of Sovereign Gold Bond was released in the last financial year. Investors last redeemed bonds in 2023-24 on February 21. Under this scheme, the government has so far raised a total of Rs 72,274 crore and released a total of 67 installments.
How is the price determined?
Sovereign Gold Bond Price RBI Where gold price closes in 3 days. Decides according to its average. For this, Bank India takes the help of the report of Bullion and Jewelers Association Limited and decides the value by considering gold of 999 purity as the standard.
What is Sovereign Gold Bond
Sovereign Gold Bond is a type of certificate, which is issued by RBI. In this, investors invest according to the grams of gold. In this scheme, not only is the market price of gold available on maturity, 2.5 percent annual interest is also being given on investment. This amount of interest is given on the basis of every 6 months, which the government is delaying in releasing. People have invested heavily in this scheme considering it as gold.
