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Draft Sovereign Gold Bond Scheme

Draft Sovereign Gold Bond Scheme
Start Date :
Jun 17, 2015
Last Date :
Jul 02, 2015
17:00 PM IST (GMT +5.30 Hrs)
Submission Closed

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: ...

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement:

“India is one of the largest consumers of gold in the world and imports as much as 800-1000 tonnes of gold each year. Though stocks of gold in India are estimated to be over 20,000 tonnes, most of this gold is neither traded, nor monetized. I propose to… develop an alternate financial asset, a Sovereign Gold Bond, as an alternative to purchasing metal gold. The Bonds will carry a fixed rate of interest, and also be redeemable in cash in terms of the face value of the gold, at the time of redemption by the holder of the Bond.

Accordingly, a draft outline of the Scheme has been prepared. Comments and views are invited on the draft scheme by 2nd July, 2015.

(The outline of the Sovereign Gold Bond Scheme is only at the draft stage and is being placed here to obtain public opinion. The scheme as it stands at this stage, does not imply any commitment from the government)

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Showing 202 Submission(s)
Ujjal Roy_2
Ujjal Roy_2 11 years 1 week ago
Sir, I think it is a very good scheme. The only ammendment which needs to be made is with the current interest rates, as well as the quantity of minimum deposit. Moreover the scheme should be available with the private banks. I feel the banks can be given the freedom of earning an interest rate of 2.5 to 3% by lending the deposites which in turn make them more competitive by allowing higher interest rates to the buyers.
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Anil Sharma
Anil Sharma 11 years 1 week ago
Sir,I suggest for draft gold scheme 2015:- 1.There should be separate treatment for individuals Account Holder and other Trusts,Religious Bodies. 2The Metal account could be opend with minimum 5 grams of gold for more individuals involvement 3Metal verification should be allowed at Registered Valuers of Gold(Already for wealth Tax Purpose) no separate authority needed for this . 4.Premature redemption for individuals. 5.good interest,Interest less1% of intt charged from gold loan seekers
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Kapil Kumar Malhotra
Kapil Kumar Malhotra 11 years 1 week ago
Good scheme Must be mandatory Every person who buy gold must give his pancard which should be mandatory through out india
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SAJAL AGARWAL
SAJAL AGARWAL 11 years 1 week ago
1) make it mandatory 2) give good interest on deposits 3) else give gold bonds in return to gold deposit..gold will come to govt and people will have same without any issue...
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