India mines just 0.1% of the globally mined gold however it has almost 25% share of the overall global annual demand of the yellow metal. This puts a lot of pressure on country’s current account and foreign exchange reserves. In the annual Union Budget of 2015, with the intent of enabling purchase of gold in electronic form and reducing gold imports, government announced the Sovereign Gold Bond Scheme (SGBS). Sovereign Gold Bonds(SGBs) are government securities denominated in grams of gold. […]
