Sovereign gold bond scheme fourth tranche to open by June-end

The fourth tranche of the sovereign gold bond (SGB) scheme, which has received a lukewarm response so far, will be launched by June-end and trading in these instruments will begin within the next couple of months.

“We are working on that (SGB). Hopefully, it should hit the market by end of next month,” Reserve Bank of India deputy governor H. R. Khan told reporters in Delhi on Tuesday. SGB, which is aimed at reducing the demand for physical gold, has not been receiving good response from investors and the government has been trying to improve the scheme to make it more attractive. There were some issues with regard to demat of the gold bonds which were being resolved, Khan said. On a question on trading of the gold bonds, he said, “it should happen in the next couple of months”.

Courtesy: Mint