The redemption price of the first series of gold bonds maturing on November 30 is Rs.6132

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Mumbai: The Reserve Bank of India has fixed the redemption price of the bonds at Rs 6,132 per unit as the first series of Sovereign Gold Bonds (SGBs) issued in November 2015 are now maturing after eight years. The Reserve Bank had issued the first series of SGB at a price of Rs 2684 per gram in November 2015.

With gold prices more than doubling in the last eight years, investors are getting good returns on these bonds. These bonds are maturing on November 30.

In addition to the increase in the price of SGB, investors have also received interest at the rate of 2.75 percent per annum. Investors who invested in SGB's first series in 2015 have returned approximately 128 percent.

As part of reducing the current demand of gold in the country, the government has released the SGB scheme linked to the price of gold. However, there is no significant decrease in gold import in the country.

In the first series of 2015, there was an income of Rs 245 crore in the government treasury from the investors. Investors invested a total of 915953 grams in SGB.

The returns received by the investors on this investment are exempted from tax. However, interest income is taxable.

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