CURRENT AFFAIRS

Detailed explanation-1: -SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.

Detailed explanation-2: -Sovereign gold bonds(SGB) were introduced by the Government of India in 2015 under the Gold Monetization Scheme. The gold bonds are issued every month from October 2021 to March 2022. Under this scheme, the issues are offered in tranches by the Reserve Bank of India in consultation with the Government of India.

Detailed explanation-3: -SGBs, or Sovereign Gold Bonds, are issued by the Reserve Bank of India (RBI) on behalf of the Centre as an alternative to buying physical gold. SGBs can be defined as bonds, which are government securities expressed in terms of grams of gold and are issued a couple of times in a given financial year.

Detailed explanation-4: -The subscription period for Series III of the Sovereign Gold Bond Scheme 2022–23 runs from December 19–23, 2022. According to a press release from the RBI dated December 16, 2022, the issuance price of the Bond during the subscription period will be Rs 5,409 (Rupees Five Thousand Four Hundred Nine only) per gramme.