Belagavi: The Belagavi postal division is ranked first in the country for the highest number of gold bonds sold under the Sovereign Gold Bond Scheme during the first tranche of this year from June 20-24.
The scheme is monitored by the Reserve Bank of India (RBI) in consultation with the Government of India. During the first tranche, the Belagavi postal division sold sovereign gold bonds of 6,941 grams worth Rs 3.53 crore. The division received 546 applications. Division head Vijay Narasimha said: “It’s good that our division sold the highest in sovereign gold bonds. The Tambaram division in Tamil Nadu stood second by selling 3,600 grams of gold bonds, while Namakkal in Tamil Nadu stood third by selling 2,550 grams.” Elaborating on the scheme, Vijay Narasihma said the post offices give hassle-free service to customers in buying gold bonds. The department gives an assured 2.5% interest after the maturity period of eight years on the total investment. Early encashment is allowed after five years, the officer said. The scheme was launched in 2015.
The Belagavi postal division covers five taluks — Belagavi, Kittur, Bailhongal, Ramdurg and Khanapur.
The scheme is monitored by the Reserve Bank of India (RBI) in consultation with the Government of India. During the first tranche, the Belagavi postal division sold sovereign gold bonds of 6,941 grams worth Rs 3.53 crore. The division received 546 applications. Division head Vijay Narasimha said: “It’s good that our division sold the highest in sovereign gold bonds. The Tambaram division in Tamil Nadu stood second by selling 3,600 grams of gold bonds, while Namakkal in Tamil Nadu stood third by selling 2,550 grams.” Elaborating on the scheme, Vijay Narasihma said the post offices give hassle-free service to customers in buying gold bonds. The department gives an assured 2.5% interest after the maturity period of eight years on the total investment. Early encashment is allowed after five years, the officer said. The scheme was launched in 2015.
The Belagavi postal division covers five taluks — Belagavi, Kittur, Bailhongal, Ramdurg and Khanapur.
