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Government launches Sovereign Gold Bond Scheme

The Government of India today launched the Sovereign Gold Bond scheme. The first tranche of subscription will remain open from November 5-20, 2015. The bonds will be issued on November 26 and will carry an annual interest rate of 2.75% payable semi-annually. The bonds will be sold through banks and designated post office. The price of the bonds will be notified later. The bonds will be for a period of 8 years with an exit option from the 5th year to be exercised on the interest payment dates.

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