Answer: Reserve Bank of India (RBI)
Notes: The Sovereign Gold Bond (SGB) scheme was introduced by the government as an alternative to physical gold investment. Issued by the Reserve Bank of India on behalf of the government, each bond unit represents one gram of gold. Investors earn fixed interest and can redeem bonds at market value upon maturity. The scheme has faced scrutiny due to high financing costs and reduced issuance as the government shifts focus to other investment strategies.
