(THE NEWSMAN OF INDIA.COM)
Mumbai: 15 October 2018: Asia’s first exchange and now world’s fastest exchange with response time of 6 microseconds is pleased to announce that BSE’s Online Bidding Platform for Sovereign Gold Bond Scheme (SGB) Scheme 2018-19 – Series 2 will be open for subscription from Monday, October 15 to, October 19, 2018 for trading members to subscribe to the issue for their clients. This bidding platform is part of the iBBS (Internet-based Book Building System) – Exchange’s existing web-based online bidding platform for IPO, Offer for Sale (OFS), Offer to buy.

Sovereign Gold Bond (SGB) are Government securities denominated in multiples of gram(s) of gold. Investors can buy these bonds through authorised SEBI Brokers. These Bonds are issued by the Reserve Bank of India on behalf of the Government of India and are traded on stock exchanges.

The quantity of gold for which the investor pays is protected, since they receive the ongoing market price at the time of redemption/premature redemption. The SGB offers a superior alternative to holding gold in physical form. The risks and costs of storage are eliminated. Investors are assured of the market value of gold at the time of maturity and periodical interest. SGB is free from issues like making charges and purity in the case of gold in jewellery form. The bonds are held in demat form eliminating risk of loss of scrip etc. The bond holder also gets 2.50% coupon payment per year, paid semi-annually, directly into the investors’ bank account registered with their demat account. The bonds will carry sovereign guarantee both on the redemption amount and the interest payable.