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Sovereign Gold Bonds | 2023-2024

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The Government of India, represented by the Reserve Bank of India, has officially unveiled the Sovereign Gold Bond Scheme 2023-2024 Series II, scheduled to commence on September 11, 2023. The price has been set at Rs 5,923 per gram of gold, with an additional discount of Rs 50 per gram for digital payments, making the effective price Rs 5,873. The Sovereign Gold Bond (SGB) is open to various categories of investors, including individuals, Hindu Undivided Families (HUFs), and others. These bonds are issued at the prevailing gold market rate, with a minimum investment requirement of one gram of gold. Individual investors can purchase up to 4 kilograms of bonds within a fiscal year. SGBs provide a competitive annual interest rate of 2.5 percent, paid semi-annually based on the nominal bond value. These bonds can be securely held in a demat account. Upon maturity, investors receive the current gold market rate. SGBs are also listed on stock exchanges, and investors have the option to reque...
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India's Forex Reserve and IMF

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Today, the world sees India as a new power, not just militarily but with prospect of being an economic superpower, it is moving fast. Nation that adopted the path of economic liberalization by mortgaging its gold in 1991 is now ranked 4th in the world in terms of foreign exchange reserves by 2021. India has foreign exchange reserves of INR 47 lakh crore.   India's foreign exchange reserves are currently the talk of the world, reason being a statement issued by International Monetary Fund. IMF have commented on India's rapidly growing foreign exchange. Informing the Reserve Bank of India, the IMF says that the pace at which India is raising foreign exchange should be slowed down by the RBI. Responding to the suggestion, the RBI said that the RBI is working in the same way as any other central bank in the world. We are seeing a lot of movements over the last few months on the issue of Indian foreign exchange reserves. The US Treasury had put India on the list of 'currency man...
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Location: India
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