The Government has launched its next tranche of Sovereign Gold Bond (SGB) scheme, the second in 2017-18, on October 9 in order to cash in on festive fever. Government of India in consultation with the Reserve Bank of India (RBI) has decided to issue sovereign gold bonds 2017-18 - Series-III.
Applications for the bond will be accepted from October 9, 2017 to December 27, 2017. The bonds will be sold through banks, Stock Holding Corporation of India (SHCIL), designated post offices and recognized stock exchanges namely the NSE and BSE. The bonds will be issued on the succeeding Monday after each subscription period.
Under the scheme, the bonds are denominated in units of one gram of gold and multiples thereof. The minimum investment in the bonds is one gram with a maximum limit of subscription of 500 grams per person per fiscal year (April–March). The maximum limit of subscribed would be 4 kg for individual and HUF and 20 kg for trusts and similar entities per fiscal (April-March) notified by the government from time to time.