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Final redemption of the Sovereign Gold Bond 2018-19 Series-II falls due on 23 October
સમાચારમાં કેમ?
Eight years, not five: the Sovereign Gold Bond redemption price rule GS-III economy answers must state
SGB 2018-19 Series-II matures on 23 October 2026, redeemed at the average IBJA gold price of the previous three business days.
Why it matters: factual, Prelims-type
What you need to know
2 મિનિટ
The Reserve Bank of India has announced the final redemption of the Sovereign Gold Bond 2018-19 Series-II, issued on 23 October 2018, on 23 October 2026.
Sovereign Gold Bonds are issued by the RBI on behalf of the Government of India and are repayable on expiry of eight years.
The redemption price is the simple average of the closing price of 999-purity gold of the previous three business days, as published by the India Bullion and Jewellers Association.
સ્રોત: Topper IAS editorial (PIB / The Hindu / Indian Express)
મુખ્ય તથ્યો
Remember these
- RBI issues Sovereign Gold Bonds on behalf of the Government of India
- SGB 2018-19 Series-II was issued on 23 October 2018 and is redeemed on 23 October 2026
- Tenor of the bond is eight years from the date of issue
- Redemption price is the simple average of the closing price of 999-purity gold of the previous three business days
- Gold price is as published by the India Bullion and Jewellers Association (IBJA)
પ્રિલિમ્સ · મેઇન્સ
How the exam will ask it
પ્રિલિમ્સ
- Sovereign Gold Bonds are issued by the Reserve Bank of India on behalf of the Government of India and are denominated in grams of gold.
- The redemption price of an SGB is the simple average of the closing price of 999-purity gold of the previous three business days, as published by IBJA.
- SGBs are repayable on expiry of eight years from the date of issue.
મેઇન્સ
GS-III (Indian economy): India's large household gold demand drives imports and pressure on the current account. SGBs, a gold monetisation instrument, let investors hold gold in paper form while the government borrows in gold-linked terms, though the fiscal cost rises when gold prices climb. The way forward is to balance investor appeal with the government's contingent liability and to deepen other gold monetisation options.
Quick recall
Answer before you reveal
Sovereign Gold Bonds, whose 2018-19 Series-II tranche is due for final redemption, are repayable on expiry of a tenor of:
- Five years
- Seven years
- Eight years
- Ten years
જવાબ જુઓ
જવાબ: C — The correct answer is Eight years. The SGB notification makes the bonds repayable after eight years from the date of issue.
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