Next Sovereign Gold Bonds Scheme opens on April 24

The government in the Centre is all set to launch the next tranche of sovereign gold bonds on coming Monday, April 24, the first in this fiscal, with offering 2.5% tax-free annual interest to its investors.
 
According to sources close to the development, the bond applications will be accepted by the government during April 24 and April 28. Eligible applicants will be issued the bonds on May 12. It also has been learnt that the interest payable semi-annually on the nominal value of the investment will be paid to the investors.
 
It may be recalled here that two years back in 2015, the country's Prime Minister, Narendra Modi had launched gold monetisation scheme, Indian gold coin and the sovereign gold bond to dampen gold imports. Modi's government intends to raise as much as Rs 5,000 crore through these schemes.