India's central bank that issues Sovereign Gold Bonds on behalf of the government
India's central bank that issues Sovereign Gold Bonds on behalf of the government
The Reserve Bank of India (RBI) is India's central banking institution that issues Sovereign Gold Bonds on behalf of the Government of India.
RBI's role in SGB: - Issues new SGB series (primary issuance) - Sets issue price based on gold price - Manages redemption at maturity - Handles premature redemption (after 5 years) - Pays interest to bondholders - Maintains bond ledger accounts
SGB issuance schedule: - RBI announces tranches throughout the year - Subscription period typically 5 working days - Allotment date specified in announcement - Issue price = Average of last 3 days' gold price
RBI backing makes SGBs one of the safest gold investments - sovereign guarantee means zero default risk.