Government mobilises Rs 1,085 cr in 6th tranche of gold bond scheme

By: | Published: March 14, 2017 11:56 PM

The government has mobilised Rs 1,085 crore in the sixth tranche of the Sovereign Gold Bonds (SGB) scheme.

Notwithstanding the pending status, the Sovereign Gold Bonds will continue to be held in RBI books and would be serviced regularly. (Reuters)

The government has mobilised Rs 1,085 crore in the sixth tranche of the Sovereign Gold Bonds (SGB) scheme. “The Reserve Bank of India, in consultation with the Government of India, has issued six tranches of SGBs for a total value of Rs 4,145 crore till date,” the central bank said in a statement. Investors in these bonds have been provided with the option of holding them in physical or dematerialised form, it said. The government mobilised Rs 3,060 crore from five tranches. The Reserve Bank issues these bonds on behalf of the government.

The statement further said the requests for dematerialisation have largely been processed successfully. “A set of records, however, could not be processed for various reasons such as mismatches in names and PAN numbers, inactive or closed demat accounts, besides other reasons,” it said.

Notwithstanding the pending status, the Sovereign Gold Bonds will continue to be held in RBI books and would be serviced regularly, it said.

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SGB scheme was launched in November 2015. It provides investors a choice to invest in gold without buying the metal in physical form.

The bonds are sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and stock exchanges NSE and BSE.

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