Redemption of sovereign gold bonds expected to spike in FY24

The scheme was launched in November 2015, as part of the government’s efforts to trim physical gold demand. Gold bonds have an eight-year tenor, with an exit option for investors from the fifth year. Gross gold bond issuances by the government are expected to be lower at ₹11,200 crore in FY24 from an estimated ₹12,000 crore this fiscal and ₹12,991 crore in FY22, a finance ministry official told ET.

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