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The government of India announced the opening of the fourth tranche of its Sovereign Gold Bond scheme on July 18.

The Sovereign Gold Bond parameters are as under :

Issue Price (per Gram) Rs 3,119
Issue Start Date July 18, 2016
Issue Close Date July 22, 2016
Bidding Session Time 10:00 AM to 05:00 PM
Minimum Bid Quantity 1 (Gram)
Maximum Bid Quantity 500 (Gram)
Interest Fixed Interest @ 2.75% per annum payable semi-annually on the issue price amount
Tenure 8 years with an exit option from 5th year onwards

The applications will be accepted through the members of National Stock Exchange and Bombay Stock Exchange, Banks, designated Post Offices and Stock Holding Corporation of India (SHCIL).