Sovereign Gold Bonds 2016-2017 Series IV launched
Q. Union Finance Ministry has issued which series of Sovereign Gold Bonds in 2016-2017?- Published on 27 Feb 17a. Series II
b. Series III
c. Series IV
d. Series V
ANSWER: Series IV
The Union Finance Ministry has decided to issue Sovereign Gold Bonds 2016-17-Series IV. The applications for the bonds will be accepted from 27th February to 3rd of March, 2017.
These will be sold through banks, designated post offices, Stock Holding Corporation of India Limited and recognised stock exchanges.
The bonds will be restricted for sale to resident Indian entities including individuals, Trusts, Hindu Undivided Families, Universities and Charitable Institutions.
The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value.
Sovereign Gold Bond scheme was launched in September 2015 with an aim to reduce the demand for physical gold by shifting it to gold bonds.
