The Reserve Bank of India, RBI has announced that it will launch inflation-linked bonds every month to attract household savings of up to 15,000 crore rupees this fiscal so as to discourage investments in gold. The central bank said, in consultation with Government of India, RBI has decided to launch Inflation Indexed Bonds, IIBs. The first tranche of the IIBs 2013-14 for 1,000-2,000 crore rupees will be issued on June 4. The maturity period of these bonds will be 10 years. The total issue size will be 12,000-15,000 crore rupees in 2013-14. After the first tranche, bonds will be issued on last Tuesday of every month. While the first series of the bonds will be open for all class of investors, the second series issue – beginning October – will be reserved exclusively for retail investors.