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Sovereign Gold Bonds (Key Features (Eligibility (Restd for sale to…
Sovereign Gold Bonds
Why in News?
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Reqd as rapid spread of Covid-19 has disturbed fin mkts, but incr the appeal of the yellow metal (gold) as a safe-haven
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Key Features
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Obj
To reduce demand for physical Gold and shift a part of domestic savings (used for purchase of gold) into financial savings
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Tenure
Eight yrs, with exit options available from fifth year
Eligibility
Restd for sale to resident indls, Hindu Undivided Families (HUFs), Trusts, Univ and Charitable Instt.
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Channels to Buy SGBs
Designated scheduled comm banks,
Stock Holding Corp of India Ltd,
Designated post offices
Advantages
Along with capital appreciation, get a fixed rate of interest
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