Sixth tranche of Sovereign Gold Bond opens today

Government's sixth tranche of Sovereign Gold Bond (SGB) scheme has opened today for subscription. 

On October 21, Government of India along with Reserve Bank of India announced to offer SGB scheme 2016-17, Series III for subscription from October 24, 2016 - November 02, 2016. 

Under this sixth tranche, RBI has offered a Rs 50 per gram discount on the issue price, which makes it Rs 2957 per gram from the earlier Rs 3007 per gram. 

Maximum amount subscribed by an entity should not be above 500 grams per person per fiscal year i.e April-March, while minimum permissible investment has been fixed at 1 gram of gold. 

Investors will earn a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value, said RBI. 

So far, the government has issued five tranches of SGBs for a total amount of Rs 3060 crore till date.