Yes Bank launches sovereign gold bond issue.
Global Banking News-November 5, 2015--Yes Bank launches sovereign gold bond issue
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Global Banking News - 05 November 2015
India-based private sector lender, Yes Bank (YESBANK.NS), has announced that it has launched a Sovereign Gold Bond.
The bond will offer an interest rate of 2.75 percent and will remain open for public subscription between November 5 and November 20. The gold bond scheme will offer investors an opportunity to buy bonds worth two grams of gold, to a maximum of 500 grams.
The bank said, 'The Gold Monetization Scheme aims to tap household gold stocks of around 22,000 tonnes, while the Sovereign Bond Scheme will help shift part of the estimated 300 tonnes of physical gold bars and coins purchased every year in the country for investment into Demat Gold Bonds.'
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