{"id":1284668,"date":"2024-08-24T08:40:59","date_gmt":"2024-08-24T03:10:59","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1284668"},"modified":"2024-08-24T08:41:19","modified_gmt":"2024-08-24T03:11:19","slug":"govt-can-end-sovereign-gold-bonds-as-they-are-expensive-complex","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/govt-can-end-sovereign-gold-bonds-as-they-are-expensive-complex\/","title":{"rendered":"Govt Can End Sovereign Gold Bonds As They Are Expensive, Complex"},"content":{"rendered":"\n

In a latest development<\/a>, the Union government is unlikely to issue further trances of sovereign gold bonds (SGBs), claiming that they are now viewed as a \u201ccomplex and expensive instrument,\u201d as informed by a senior government official.<\/p>\n\n\n\n

\"Govt<\/figure>\n\n\n\n

Discontinuation Of Sovereign Gold Bonds<\/strong><\/p>\n\n\n\n

The media informed that the Government of India may discontinue the sale of Sovereign Gold Bonds (SGB) as they are considered an \u201cexpensive and complex\u201d instrument.<\/p>\n\n\n\n

Further, the Reserve Bank announced the redemption price of a SGB scheme (SGB 2016-17 Series I \u2014 issue date August 5, 2016) at Rs 6,938 for gold of the 999 purity (of one gram) at the start of this month.<\/p>\n\n\n\n

Interestingly, this price is 122 percent higher than the issue price of Rs 3119 in August 2016.<\/p>\n\n\n\n

The report indicates that the bond investors put in  \u20b972,274 crore in 67 segments or tranches of SGB.<\/p>\n\n\n\n

Out of these 67 segments, four have fully matured and the money has been sent back to the investors who bought the bonds. <\/p>\n\n\n\n

When it comes to the bonds, they are a form of debt instrument which a government or a corporation can use to raise money for a particular requirement.<\/p>\n\n\n\n

Investors Doubling Their Money<\/strong><\/p>\n\n\n\n

With the use of these instruments, investors more than doubled their invested money which is payable from the government’s pocket, on the first four tranches issued between 2015 and 2017.<\/p>\n\n\n\n

The government owes \u20b985,000 crore to investors as highlighted in the recent Union budget.<\/p>\n\n\n\n

This appears to be almost  nine times the Rs 10,000 crore it owed at the end of March 2020, media reported.<\/p>\n\n\n\n

Prior to this, the markets looked prepared as the demand for gold bonds had increased in the secondary markets.<\/p>\n\n\n\n

The report noted that the Investors were willing to pay as much as 8 per cent more than the trading price set by the government as of Aug 14, 2024.<\/p>\n\n\n\n

In the case of the Sovereign Gold Bonds, they are listed in the secondary market.<\/p>\n\n\n\n

Further, can be traded in cash segments on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) through investors’ demat accounts. <\/p>\n\n\n\n

Please note here that the profits made from the sale of the gold bonds through the exchanges will attract a capital gains tax.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a latest development, the Union government is unlikely to issue further trances of sovereign gold bonds (SGBs), claiming that they are now viewed as a \u201ccomplex and expensive instrument,\u201d as informed by a senior government official. Discontinuation Of Sovereign Gold Bonds The media informed that the Government of India may discontinue the sale of […]<\/p>\n","protected":false},"author":27,"featured_media":1284673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5948],"class_list":["post-1284668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-sovereign-gold-bonds"],"acf":[],"yoast_head":"\nGovt Can End Sovereign Gold Bonds As They Are Expensive, Complex - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/govt-can-end-sovereign-gold-bonds-as-they-are-expensive-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Can End Sovereign Gold Bonds As They Are Expensive, Complex - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"In a latest development, the Union government is unlikely to issue further trances of sovereign gold bonds (SGBs), claiming that they are now viewed as a \u201ccomplex and expensive instrument,\u201d as informed by a senior government official. 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