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    Question

    Consider the following statements in regards to

    Sovereign Gold Bonds: I) The scheme was launched in November 2015. II) The tenor of the Bond will be for a period of 10 years with exit option after 5 th year. III) Minimum permissible investment will be 1 gram of gold. The maximum limit of subscription shall be 5 Kg for individuals. Which of the following statements is/are correct?
    A I only Correct Answer Incorrect Answer
    B I & III Correct Answer Incorrect Answer
    C I & II Correct Answer Incorrect Answer
    D II & III Correct Answer Incorrect Answer
    E All Correct Answer Incorrect Answer

    Solution

    The Sovereign Gold Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates. Minimum permissible investment will be 1 gram of gold. The maximum limit of subscription shall be 4 Kg for individual, 4 Kg for HUF, and 20 Kg for trusts and similar entities per fiscal (April-March) year

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