CURRENT AFFAIRS

Detailed explanation-1: -The Bond is issued by the Reserve Bank of India on behalf of the Government of India. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.

Detailed explanation-2: -Price of SGB is fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period.

Detailed explanation-3: -Sovereign Gold Bonds: The Reserve Bank of India (RBI) has started issuing the next tranche of Sovereign Gold Bonds (SGBs) on behalf of the central government.

Detailed explanation-4: -Sovereign gold bonds or SBGs are gold bonds issued by the Reserve Bank of India (RBI) on behalf of the Government of India. Here’s how to buy them. The gold in this bond is sold on a per unit basis such that every unit derives its value from underlying one gram gold with 999 purity.

Detailed explanation-5: -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.