Consider the following statements about Sovereign gold bond scheme.
$1$ . This bond scheme is open to Indians (both residents and non-residents).
$2$ . These bonds shall be issued in the form of Government of India Stock.
$3$ . These bonds shall be eligible for conversion into demat form.
Which of the given statements is/are correct?

1

and

2

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1

and

3

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2

and

3

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All of the above

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Solution

The correct option is C $2$ and $3$
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. People who hold physical gold can go for these bonds as substitute. The objective of the scheme is to reduce the country’s dependence on gold imports and increase domestic supply. This scheme is open only to Indian residents, The Bonds shall be issued in the form of Government of India Stock in accordance with the Government Securities Act, 2006 and they shall be eligible for conversion into demat form.

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