Sovereign Gold Bonds (SGB) might end/scaled down as import duty reduces to 6%
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Recently read some reports on how the government might stop issuing SGB or scale down the scheme as the import duty on gold and silver is reduced to 6% from 15%
Investors pay an issue price and the bonds get redeemed on maturity. “We have given 9-11 per cent return per annum and on top of that an interest of 2.5%,” said a senior government official.
The current interest rate for the Sovereign Gold Bond Scheme is 2.5% per annum, the interest rate is fixed for the entire tenure of the bond, which is eight years. The gold bond interest is credited to the investor’s account every six months.
“You get around 10-11 per cent return with mutual funds at a risk; The scheme was too attractive. There is no economic rationale,” said the source'
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To my knowledge, money invested in Shares during Covid has given higher return so far than money invested in gold during covid.
Sgb new scheme aa bhi nahi rahi.. and main lene wala bhi nahi itna high me.. 6200 tak buy kiya tha..
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Govt. Made a loss by paying the interests.
Those Rich people who bought it during COVID times are now relaxing in Goa Villa
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It was good no risk high returns.
But yes Since King Of Good Times also had Bad Time, then everything will!
Goodbye SGB.