More than three lakh applications were received by the Banks during the Second Tranche of Sovereign Gold Bonds.Finance Ministry in a release said, during the second tranche of Scheme from 18th January to 22nd January this year subscription of 2790 Kilograms of gold amounting to Rs 726 crore was received by the Banks. These Bonds will be issued on 8th of next month. The Ministry said, the trend during the Second Tranche of scheme shows that the scheme is gradually picking-up amongst the investors with increase in awareness and more clarity about the provisions of the scheme. During the first tranche of Sovereign Gold Bonds issued during November last year, more than 62 thousand applications were received for a total subscription of around 915 Kilograms of gold amounting to Rs 246 crore by the Banks and Post Offices. The objective of the scheme is to reduce the demand for physical gold and shift a part of the domestic savings used for purchase of gold, into financial savings.