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?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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