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Modi govt gives chance to buy cheap gold on Rakshabandhan, know what is this scheme

Modi govt gives chance to buy cheap gold on Rakshabandhan, know what is this scheme


The month of August has already begun. The first Monday of this month is the festival of Rakshabandhan on August 3. The Modi government is offering a chance to buy cheaper gold under a special scheme.

Let’s go into detail about this scheme.


In fact, the government’s sovereign gold bond scheme is going to be launched once again from August 3. The price of gold has been fixed at Rs 5,334 per gram under this bond scheme.

Also read: Government Guaranteed Credit Guarantee Scheme Extended, Know What Changes Have Been

Online payers will get a discount of Rs 50 per gram, making gold at Rs 5,284 per gram. This means that if you have to purchase 10 grams of gold, you will have to pay Rs. 52, 840.


If you talk about gold per ten grams in the market, it is more than Rs. 54, 000. Let me tell you here that under the Modi government’s scheme, you can buy gold as a bond.


This bond can be purchased at least one gram and up to a maximum of 4 kg. It does not have purity and security tension. For this, you can apply to the bank, the designated post office, the Stock Holding Corporation of India, NSE and BSE in a digital manner.



The bond under the Reserve Bank has a term of eight years. It has the option to exit on the date of interest payment after the fifth year.



If it comes to the purpose of this scheme, the government wants to reduce the physical demand for gold. Currently, you can join the Modi government’s scheme by August 7. Here is why the government will once again come up with the scheme in September.


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