Gold Monetisation Scheme

Gold bond scheme picking up: Das

  1. The second tranche of the Sovereign Gold Bond (SGB) scheme has attracted applications for gold worth Rs.726 crore.
  2. The scheme is gradually picking-up amongst the investors with increase in awareness and more clarity about the provisions of the scheme.
  3. The idea behind the SGB scheme is to wean away those who use gold as a store of value.
  4. It encourages them to invest in the gold bonds as opposed to the yellow metal itself.
  5. The bonds are issued by the Reserve Bank of India on behalf of the govt.

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