Sovereign Gold Bond Scheme: Government is going to close this scheme, know why and till when?

The government may close the Sovereign Gold Bond Scheme. A decision on Sovereign Gold Bond Scheme may also be taken in the budget to be presented on February 1. Experts believe that this time the chances of new allocation for SGB scheme in the budget are very less.

This decision is possible in view of the rising price of gold. CNBC's Lakshman Roy told that in the current year, it has been announced to issue SGB worth Rs 18 thousand 500 crore. The government is incurring a loss of 2.5 percent interest on sovereign gold bonds. In such a situation, the Sovereign Gold Bond Scheme is not likely to continue. Read More – 2025 Holiday Calendar: There will be a total of 38 holidays in the year 2025, see the complete list here…

Laxman Roy told that the government believes that Sovereign Gold Bonds were issued with the aim of promoting investment in gold. But due to rising gold prices and interest expenses on this scheme, the government may close this scheme.

Started with the aim of reducing gold imports

The Reserve Bank of India launched the Sovereign Gold Bond (SGB) scheme in November 2015 to provide an alternative to physical gold. The objective of this scheme was also to reduce the demand for gold (Sovereign Gold Bond Scheme) and to curb imports. Read More – New Year 2025: Do these 5 things on the first day of the new year, the blessings of Goddess Lakshmi will remain throughout the year…

Investment limit: You can invest in maximum 4 kg gold

Through SGB, a person can invest a minimum of 1 gram and a maximum of 4 kg of gold in a financial year. In case of joint holding, the investment limit of 4 kg will be applicable only on the first applicant. The maximum purchase limit for the trust is 20 kg.