Govt mulls raising Rs 15,000 cr through gold bond scheme
9 July 2015 5:24 AM IST
<g data-gr-id="26">Government</g> is looking at raising Rs 15,000 crore in the current fiscal through the gold bond scheme, for which a cabinet note is likely to be moved for consideration later in the month.
The interest rate for the scheme, which was announced by Finance Minister Arun Jaitley in his budget speech, would be close to the rates on government securities, a senior official said. "We are in talks with the RBI on it. The floor rate would be somewhere around the rates fetched by other government securities," the official said.
The Finance ministry last month came out with a discussion paper on the sovereign gold bond scheme. It had suggested that the scheme be linked to the government borrowing programme.
IRF turnover swells 21%
Investors seem to have turned bullish on interest rate futures (IRF) as capital markets registered about 21 per cent jump in turnover at nearly Rs 68,690 crore in June compared with the preceding month. Trading value from IRF -- on BSE, NSE and MSEI -- cumulatively stood at Rs 56,831 crore in May, latest exchange data showed.
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