The government on Friday announced the issue of Sovereign Gold Bonds 2017-18 series-III, first time after the liberalisation of SGB schemes in July 2017. While the 2.5 per cent interest rate was retained, the pricing formula was re-aligned with the market price and the bonds’ tenure was expanded, as against the previously followed practice.

Even the investment limit per individual has been increased to 4 kg from 500 grams. For members of the Hindu Undivided Family, the limit was fixed at 4 kg, while for trusts and similar entities a cap of 20 kgs was set for each financial year. A discount of Rs 50 would be exclusively offered to online/ digital investors.

The government note further stated: “The price of bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited, for the last three business days of the week preceding the subscription period.”

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