RBI's major update on Sovereign Gold Bonds: Investing ₹2954 will yield ₹12801 per unit..

The Reserve Bank of India (RBI) on Wednesday fixed the redemption value for two old series of Sovereign Gold Bonds (SGBs) at ₹12,801 per unit. This amount will be paid to investors who purchased units in the SGB 2017-18 series, which was issued on December 11, 2017.

According to the RBI, investors had invested ₹2,954 per unit at that time. Upon maturity, they will now receive ₹12,801 per unit. In addition, investors also received an annual interest of 2.5% during this period, which is one of the key features of Sovereign Gold Bonds. This means that those who invested in this scheme benefited from both the rising price of gold and regular interest income.

The Sovereign Gold Bond scheme was launched by the central government and the RBI to reduce the habit of buying physical gold in the country, as India is one of the world's largest gold importers. This bond provides people with a safe and secure option to invest in gold digitally, eliminating concerns about storage and also providing interest income.

This new redemption value announced by the RBI is proving to be a significant benefit for investors who invested at a lower price seven years ago. They are now receiving a good return based on the current market price.

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