Recently, the Government of India (GoI) approved the Sovereign Gold Bonds Scheme. What is the limit of Gold quantity per person to buy gold bonds?
The Union Cabinet approved the Sovereign Gold Bond Scheme. In it, one can buy gold bonds instead of actual gold. The Reserve Bank of India (RBI) will issue these bonds on behalf of the Government of India (GoI). The excerpts of this scheme are:- a) Issued in denominations of 5, 10, 50, 100 grams of gold and a person can buy only 500 grams of bonds. B) The bonds are restricted for sale to resident Indian entities. C) Tenor of the bond: 5 to 7 years. D) Available both in demat and paper form. E) Can be used as collateral for loans.