The 5th tranche of Sovereign Gold Bonds will open for nine days from September 1, through which the Government aims to attract a large number of investors to curb the demand for physical gold. “Applications for the bonds will be accepted from September 01, 2016 to September 09, 2016. The Bonds will be issued on September 23, 2016,” the Finance Ministry said in a statement. The Sovereign Gold Bonds (SGBs) will be sold through banks, Stock Holding Corporation of India limited (SHCIl), designated post offices and recognised stock exchanges -- NSE and BSE. As Government securities denominated in grams of gold, SGBs offer an alternative to holding gold in physical form. The scheme was announced by the Government on October 30, last year. To improve attractiveness of the scheme, new features were introduced in the fourth installment, where the minimum subscription limit was brought down to 1 gm, from 2 gm. The maximum amount subscribed by an entity can not be more than 500 grams per person per fiscal year (April-March).
