Commodity Updates - The first tranche of sovereign gold bonds 2015-16 has received good response, the Reserve Bank of India said in a statement.
The sovereign gold bond (SGB) was open for subscription from November 5, 2015 to November 20, 2015. The Bonds were issued on Nov 30, 2015. Total subscription denominated in units of Gold was 9,15,953 grams amounting to Rs 246 cr. RBI told in a statement.
The top ten receiving offices in terms of subscription amount were HDFC Bank Limited,Andhra Bank, YES Bank Ltd,, Karur Vysya Bank Ltd, Allahabad Bank, ICICI Bank Ltd, Bank Of India, DCB Bank Ltd, State Bank of India and Federal Bank Ltd, RBI notified.
Certificates of holding have been sent to receiving offices and email ids of endorsers available on record. For obtaining copies of certificate of holding or any further assistance, subscribers may approach their receiving offices, it said.
In view of the encouraging investor response to the first tranche, further tranches of SGB will be declared by the Government in due course, it added.
It may be recalled that RBI in consultation with Government of India (GoI) had launched Sovereign Gold Bonds (SGB) in an effort to less demand for gold by providing an alternative investment instrument linked to gold. The Bonds were sold through expected commercial banks and designated post offices.
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