New Delhi : The government has received subscription for 2,790 kg gold amounting to Rs 726 crore under the second tranche of sovereign gold bond scheme, three times more than what it had received earlier.

“Second tranche of Gold Bond Scheme: About 3.16 lakh applications for 2,790 kgs gold involving subscription of Rs 726 crore received,” Economic Affairs Secretary Shaktikanta Das tweeted. The first tranche of the scheme, which was launched in November, had received a subscription for 915.95 kg of gold worth Rs 246 crore. As many as 62,169 applications had come for the first tranche. “Second tranche of Gold Bonds: Outcome significantly better than first tranche. Scheme picking up,” Das said.

The second tranche of gold bond scheme, which opened for subscription on January 18, closed on January 22. The bonds would be alloted on February 8.   The gold bonds are issued in denominations of 5 grams, 10 grams, 50 grams and 100 grams for a term of 5-7 years. The government has fixed the rate of interest on gold bonds for the year 2015-16 as 2.75% per annum, payable on half yearly basis.

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