July 19, 2016 7:35 AM

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Sovereign Gold Bond scheme opened for subscription

The fourth tranche of the Sovereign Gold Bonds scheme opened for subscription. The bond can be purchased from the National Stock Exchange and Bombay Stock Exchange, besides all Bank branches, select Post Offices and the Stock Holding Corporation of India Limited.The government had yesterday fixed 3,119 rupees per gram as the issue price for the bond. The scheme will be open till Friday. In a statement, the Finance Ministry said, to attract small investors, the minimum subscription has been reduced to 1 gram, although the maximum remains at 500 gram per person or institution. Earlier, the minimum denomination was 5 gram. The first 3 tranches had attracted an investment of 1,318 crore rupees, equivalent to 4.9 tons of gold at the then prevailing prices. With the added features, it is expected that the 4th tranche of the Sovereign Gold Bonds would garner much higher investment.

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