The first tranche of the Sovereign Gold Bonds (SGB) scheme in this fiscal will open for public subscription on Monday. A Finance Ministry statement last week had said that the applications for Sovereign Gold Bonds 2017-18 - Series I will be accepted from April 24 to April 28 and the bonds issued on May 12. The issue price of the gold bonds will be Rs 50 per gram less than the nominal value, it said. On Friday, the Reserve Bank of India announced the issue price for this tranche at Rs 2,901 per gram. The bonds would earn a yearly interest of 2.75 per cent, payable every six months and their tenure be 8 years, with an exit option from the fifth year to be exercised on the interest payment dates.

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