India delays issuance of gold bonds due to huge subscription

The date the government planned to issue it recently launched sovereign gold bonds has been pushed back by four days to November 30 due to higher-than-expected number of applications, the finance ministry said in a statement.

“Large number of applications have been received by the banks and post offices for Sovereign Gold Bonds, 2015-16. To enable smooth uploading of applications into RBI’s E-kuber system, particularly by the post offices, it has since been decided to shift the issue date of the Sovereign Gold Bonds from November 26, 2015 to November 30, 2015,” it said in a statement.

The government had launched the scheme in its efforts to bring out the gold locked in family vaults and temples on November 5 and the bonds were open for subscription until November 20.

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