New Delhi: The government is likely to discontinue sovereign gold bonds as it is an “expensive and complex” instrument, according to a CNBC-TV18 report citing government sources. Introduced in 2015 as a measure to curb the rising import of gold, SGBs represent a form of gold investment on paper.
Since their inception, investors have poured Rs 72,274 crore into 67 tranches of SGBs issued by the Reserve Bank of India (RBI) on behalf of the government. Of these, four tranches have fully matured, with investors having received their returns. Notably, early investors in the first four tranches issued between 2015 and 2017 more than doubled their money, with the payouts coming from the government exchequer, according to the report.
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