Gold Bonds for sale

374166-gold-2Union Cabinet chaired by Prime Minister Narendra Modi approved Gold Bonds Scheme. The risk of gold price changes will be borne by the Gold Reserve Fund that is being created. The benefit is in terms of reduction in the cost of borrowing, which will be transferred to the Gold Reserve Fund. It will help reduce the demand by shifting a part of the estimated 300 tons gold bars and coins purchased every year for investment in gold bonds. Since most of the demand is met through imports th scheme will help maintain current account deficit. RBI will determine the issue of bonds in consultation with the Ministry of Finance. Bonds will be marketed through post offices/banks/NBFCs and by brokers/agents (including NSC agents) who will be paid a commission.

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