Interest Rates on various Small Savings Schemes for the 1st Quarter of 2016-17 notified
Interest Rates on various Small Savings Schemes for
the 1st Quarter of 2016-17 notified;. Additional Interest Rate spreads which
the Government allows on Small Savings Schemes like PPF, Senior Citizen Savings
Scheme, Sukanya Samridhi Scheme and NSC etc. are being continued and included
in the rates notified today.
Accordingly,
as done in the previous years, the interest rates for various Small Savings
Schemes were due for recalculation in March 2016. As notified on 16th
February, 2016, instead of annual resetting of interest rates for the next
financial year, the interest rates from now on will be reset every quarter
based on the G-Sec yields of the previous three months. Consequently, the
interest rates for various Small Savings Schemes were recalculated with
reference to the G-Sec yields of equivalent maturity for the months December
2015 to February 2016. Based on this calculation, the interest rates on
various Small Savings Schemes for the 1st quarter of 2016-17 have
been notified today. The rates of interest on various small savings schemes for
the First Quarter of Financial Year 2016-17, on the basis of the interest
compounding/payment built-in in the schemes, shall be as under:
Instrument
|
Rate of interest
w.e.f. 01.04.2015 to 31.3.2016
|
Rate of interest
w.e.f. 01.04.2016 to 30.6.2016
|
Savings Deposit
|
4.0
|
4.0
|
1 Year Time Deposit
|
8.4
|
7.1
|
2 Year Time Deposit
|
8.4
|
7.2
|
3 Year Time Deposit
|
8.4
|
7.4
|
5 Year Time Deposit
|
8.5
|
7.9
|
5 Year Recurring Deposit
|
8.4
|
7.4
|
5 Year Senior Citizens Savings Scheme
|
9.3
|
8.6
|
5 year Monthly Income Account Scheme
|
8.4
|
7.8
|
5 Year National Savings Certificate
|
8.5
|
8.1
|
Public Provident Fund Scheme
|
8.7
|
8.1
|
Kisan Vikas Patra
|
8.7
|
7.8 (will mature in 110 months)
|
Sukanya Samriddhi Account Scheme
|
9.2
|
8.6
|
This is a formula driven process.
Further,
as notified earlier, the additional interest rate spreads which the Government
allows on Small Savings Schemes like PPF, Senior Citizen Savings Scheme,
Sukanya Samridhi Scheme, NSC etc. are being continued. The additional
spread for these Schemes are 25 basis points for PPF, 100 basis points for
Senior Citizen Savings Scheme, 75 basis points for Sukanya Samridhi Scheme, 25
basis points for five year time deposit, 25 basis points for National Savings
Certificate and 25 basis points for Monthly Income Scheme. These additional
interest rate spreads are being continued and are included in the rates
notified today.
The
quarterly revision of interest rates will ensure that the interest rates under
Small Savings Schemes are more dynamically related to the current market rates,
thereby enabling the Banks to move their interest rates in line with current
money market rates.
*****************
Interest Rates on various Small Savings Schemes for
the 1st Quarter of 2016-17 notified;. Additional Interest Rate spreads which
the Government allows on Small Savings Schemes like PPF, Senior Citizen Savings
Scheme, Sukanya Samridhi Scheme and NSC etc. are being continued and included
in the rates notified today.
From
the year 2012-13, the interest rates on various Small Savings Schemes (SSS) are
recalculated and notified in the month of March every year. These rates
are applicable for the next financial year. This is being done in line
with the recommendations of the Shyamala Gopinath Committee to ensure that the
interest rates of Small Savings Schemes are market linked.
Accordingly,
as done in the previous years, the interest rates for various Small Savings
Schemes were due for recalculation in March 2016. As notified on 16th
February, 2016, instead of annual resetting of interest rates for the next
financial year, the interest rates from now on will be reset every quarter
based on the G-Sec yields of the previous three months. Consequently, the
interest rates for various Small Savings Schemes were recalculated with
reference to the G-Sec yields of equivalent maturity for the months December
2015 to February 2016. Based on this calculation, the interest rates on
various Small Savings Schemes for the 1st quarter of 2016-17 have
been notified today. The rates of interest on various small savings schemes for
the First Quarter of Financial Year 2016-17, on the basis of the interest
compounding/payment built-in in the schemes, shall be as under:
Instrument
|
Rate of interest
w.e.f. 01.04.2015 to 31.3.2016
|
Rate of interest
w.e.f. 01.04.2016 to 30.6.2016
|
Savings Deposit
|
4.0
|
4.0
|
1 Year Time Deposit
|
8.4
|
7.1
|
2 Year Time Deposit
|
8.4
|
7.2
|
3 Year Time Deposit
|
8.4
|
7.4
|
5 Year Time Deposit
|
8.5
|
7.9
|
5 Year Recurring Deposit
|
8.4
|
7.4
|
5 Year Senior Citizens Savings Scheme
|
9.3
|
8.6
|
5 year Monthly Income Account Scheme
|
8.4
|
7.8
|
5 Year National Savings Certificate
|
8.5
|
8.1
|
Public Provident Fund Scheme
|
8.7
|
8.1
|
Kisan Vikas Patra
|
8.7
|
7.8 (will mature in 110 months)
|
Sukanya Samriddhi Account Scheme
|
9.2
|
8.6
|
This is a formula driven process.
Further,
as notified earlier, the additional interest rate spreads which the Government
allows on Small Savings Schemes like PPF, Senior Citizen Savings Scheme,
Sukanya Samridhi Scheme, NSC etc. are being continued. The additional
spread for these Schemes are 25 basis points for PPF, 100 basis points for
Senior Citizen Savings Scheme, 75 basis points for Sukanya Samridhi Scheme, 25
basis points for five year time deposit, 25 basis points for National Savings
Certificate and 25 basis points for Monthly Income Scheme. These additional
interest rate spreads are being continued and are included in the rates
notified today.
The
quarterly revision of interest rates will ensure that the interest rates under
Small Savings Schemes are more dynamically related to the current market rates,
thereby enabling the Banks to move their interest rates in line with current
money market rates.
*****************
Government clarifies to the Jewellery Industry
about the issues relating to imposition of Excise Duty on articles of Jewellery
with simplified procedures.
In the General Budget for 2016-17, a nominal excise
duty of 1% [without input tax credit] and 12.5% [with input tax credit] has
been imposed on articles of jewellery with simplified procedures. Salient
features of the simplified procedures for this levy have been explained vide press release issued by the Government on 4th
of March, 2016.
In this
connection, on 17th of March, 2016, a number of representatives of
jewellery industry met Secretary (Revenue), Government of India and Chairman (Central
Board of Excise &Customs) to discuss the concerns regarding imposition of
this levy.
During the meeting, the aforesaid representatives inter-alia raised the
following issues:
a)
Re-imposition of levy will
bring back regime of erstwhile Gold control Act leading to harassment of
Jewellers, especially artisans and small goldsmiths.
b)
This will also result in
visits of Inspectors to the Jewellers thereby bringing back the days of
Inspector Raj.
c)
Who has to take excise registration
and file return?
d) What documents are to be
maintained for excise purposes?
The representatives of industry also requested for increase in exemption limit
of Rs. 6 crore in a year to Rs.10 crore, and urged for an early consideration
of the same.
Regarding concerns relating to procedures and compliance to the levy, the
representatives of industry were informed that all these issues have already
been clarified vide Chairman’s D.O. letter dated 3rd March, 2016 to
field formations and the Press release dated 4th March, 2016, copies
of which were also provided to them.
Further, in the meeting,
the following was clarified:
a) In case of jewellery
manufactured on job work basis, the liability to take registration, pay duty
and to file return is on the principal manufacturer and not on the job worker.
b) Further, exemption from excise
duty up to the clearance limit of Rs. 6 crore is available to a jewellery
manufacturer if his aggregate value of domestic clearances is less than Rs. 12
crore in the preceding financial year.
c) Artisans and job-workersare
not covered within the ambit of this duty and thus they are not required to
take registration, pay duty, file returns and maintain any books of account.
d) A jewellery manufacturer
having turnover less than Rs. 12 crore during the preceding financial year and
less than Rs. 6 crore in the current financial year is not required to take
registration and file return.
e) Application for excise
registration as well as returns can be filled online [https://www.aces.gov.in/].
f)
Directions have been issued to
the field formations to provide hassle free registration within two working
days. There will be no post registration physical verification of the
jeweller’s premises.
g) There is no requirement of
declaring pre-budget stocks. Directions have also been issued barring any
visits to the jeweller’s premises.
h) Jeweller’s private records or
his records for State VAT or for Bureau of Indian Standards (in the case of
hallmarked jewellery) would be accepted for all Central Excise purposes.
Useful links:
Issuance of Calendar for Auction of Government of
India Treasury Bills (For the Quarter ending June 2016)
After reviewing the cash position, the Government
of India, in consultation with Reserve Bank of India (RBI), has decided to
notify the amounts for the issuance of Treasury Bills for the quarter ending
June 2016 as under:
Notified Amount
for Auction of Treasury Bills
(April 1, 2016
to –June 30, 2016)
(` Crore)
|
||||
Date of Auction
|
91 Days
|
182 Days
|
364 Days
|
Total
|
06 April, 2016
|
9,000
|
6,000
|
15,000
|
|
12 April, 2016
|
9,000
|
6,000
|
15,000
|
|
20 April, 2016
|
9,000
|
6,000
|
15,000
|
|
27 April, 2016
|
9,000
|
6,000
|
15,000
|
|
04 May, 2016
|
9,000
|
6,000
|
15,000
|
|
11 May, 2016
|
9,000
|
6,000
|
15,000
|
|
18 May, 2016
|
9,000
|
6,000
|
15,000
|
|
25 May, 2016
|
9,000
|
6,000
|
15,000
|
|
01 June, 2016
|
9,000
|
6,000
|
15,000
|
|
08 June, 2016
|
9,000
|
6,000
|
15,000
|
|
15 June, 2016
|
9,000
|
6,000
|
15,000
|
|
22 June, 2016
|
9,000
|
6,000
|
15,000
|
|
29 June, 2016
|
9,000
|
6,000
|
15,000
|
|
Total
|
1,17,000
|
42,000
|
36,000
|
1,95,000
|
The Government of India/Reserve Bank of India will continue to have the
flexibility to modify the notified amount and timing for auction of Treasury
Bills depending upon the requirements of the Government, evolving market
conditions and other relevant factors. Thus, the calendar is subject to change,
if circumstances so warrant including for reasons such as intervening holidays.
Such changes, if any, will be communicated through regular press releases.
The auction of Treasury Bills
will be subject to the terms and conditions specified in the General
Notification No. F2(12)-W&M/97 dated March 31, 1998 issued by the
Government of India, as amended from time to time.
*********
Issuance of Calendar for Marketable Dated
Securities for April 2016 - September 2016
In order to enable institutional and retail investors to plan their
investment efficiently and to provide transparency and stability to the
Government securities market, an indicative calendar for issuance of Government
dated securities for the first half of the fiscal year 2016-17 (April 1, 2016
to September 30, 2016) is being issued in consultation with the Reserve Bank of
India (RBI):
Calendar for Issuance of Government of India
Dated Securities
(April 1, 2016 to September 30, 2016)
|
|||
Sr. No.
|
Week of Auction
|
Amount in
(`Crore)
|
Security-wise allocation
|
1
|
April 04- April 08, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
2
|
April 11- April 15, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
3
|
April 18- April 22, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
4
|
April 25- April 29, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
5
|
May 02- May 06, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
6
|
May 09- May 13, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
7
|
May 16- May 20, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
8
|
May 23- May 27, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
Calendar for Issuance of Government of India
Dated Securities
|
|||
Sr. No.
|
Week of Auction
|
Amount in
(` Crore)
|
Security-wise allocation
|
9
|
May 30- June 03, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
10
|
June 06- June 10, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
11
|
June 20- June 24, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
12
|
June 27- July 01, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
13
|
July 04- July 08, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
14
|
July 11- July 15, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
15
|
July 18- July 22, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
16
|
July 25- July 29, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
17
|
August 01- August 05, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
18
|
August 08- August 12, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
19
|
August 15- August 19, 2016
|
15,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
Calendar for Issuance of Government of India
Dated Securities
|
|||
Sr. No.
|
Week of Auction
|
Amount in
(` Crore)
|
Security-wise allocation
|
20
|
August 22- August 26, 2016
|
14,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
21
|
August 29- September 02, 2016
|
14,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
22
|
September 05- September 09, 2016
|
14,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
23
|
September 19 - September 23, 2016
|
14,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
24
|
September 26 – September 30, 2016
|
14,000
|
i) 5-9 Years for ` 2,000-3000 crore
|
ii) 10-14 Years for ` 7,000-8,000 crore
|
|||
iii) 15-19 years for ` 2,000-3,000 crore
|
|||
iv) 20 Years & Above for ` 2,000-3,000 crore
|
|||
Total
|
3,55,000
|
As hitherto, all the auctions covered by the calendar will have the
facility of non-competitive bidding scheme under which five per cent of the
notified amount will be reserved for the specified retail investors.
Like in the past, the Government of India/ Reserve Bank of
India will continue to have the flexibility to bring about modifications in the
above calendar in terms of notified amount, issuance period, maturities etc.
and to issue different types of instruments including variable rate instruments
and those of non-standard maturity, depending upon the requirement of the
Government of India, evolving market conditions and other relevant factors
after giving due notice.
*********
Third Tranche of SGB from 8th March, 2016 to 14th
March, 2016, as per initial figures, show more than 64,000 Applications
received for a total subscription of 1128 Kilograms of Gold amounting to Rs.
329 crore; SGB to be issued on March 29, 2016.
During the third tranche of the Sovereign Gold Bond
(SGB) scheme from 8th March, 2016 to 14th March, 2016, as per initial figures,
more than 64,000 applications have been received for a total subscription of
1128 Kilograms of gold amounting to Rs. 329 crore. The actual figure may vary
as comprehensive information from all the authorized receiving agencies is
under compilation. These Bonds will be issued on March 29, 2016. The top
receiving agencies in terms of subscription amount are SBI, Bank of India,
Indian Bank, ICICI Bank, Punjab and Sind Bank, HDFC Bank, Canara Bank, Andhra
Bank, PNB, Union Bank of India and Central Bank of India.
The trend during the Third Tranche of SGB shows that the scheme is gradually picking-up amongst the investors with increase in awareness and more clarity about the provisions of the scheme.
The Third Tranche of SGB was kept open from 8th to 14th March, 2016. A Review Meeting through video conferencing was held with the Banks in national Capital by Shri Shaktikanta Das, Secretary, Economic Affairs before the opening of the issue. To increase the awareness amongst potential depositors, the Government had also launched the media campaign through AIR, FM radio, Print media, Mobile SMS, facebook and twitter.
It may be recalled that during the First Tranche of SGB issued in November 2015, 62169 applications were accepted for a total subscription of 915.953 Kilograms of gold amounting to Rs 246.20 crore by the Banks and Post Offices. In the Second Tranche of SGB from 18th January, 2016 to 22nd January, 2016, approximately 3.16 lakh applications were accepted for a total subscription of 2872.3 Kilograms of gold amounting to Rs 746.80 Cr crore by the Banks.
Earlier, the Government of India had launched the Sovereign Gold Bond (SGB) Scheme on 5th November, 2015. The objective of the scheme is to reduce the demand for physical gold and shift a part of the domestic savings used for purchase of gold, into financial savings.
Sovereign Gold Bonds are issued on behalf of Government of India in tranches by RBI, from time to time, on payment of the required amount in rupees. The Bonds are denominated in grams of gold and are restricted for sale to resident Indian entities including individuals, HUFs, trusts, Universities, charitable institutions. Minimum permissible investment is two grams of gold, value of which is to be paid in rupees. The maximum amount which could be subscribed is 500 grams per person per financial year. Government has fixed the rate of interest on gold bonds for the year 2015-16 as 2.75 % per annum, payable on half yearly basis. The tenor of the Bond is for a period of 8 years with exit option from 5th year onwards. On maturity, the investor will get the equivalent rupee value of the quantum of gold invested at the then prevailing price of gold. Exemption, from capital gains is available at redemption. Detailed information about the scheme is also available on the website www.finmin.nic.in/swarnabharat and on the toll free number 18001800000.
The trend during the Third Tranche of SGB shows that the scheme is gradually picking-up amongst the investors with increase in awareness and more clarity about the provisions of the scheme.
The Third Tranche of SGB was kept open from 8th to 14th March, 2016. A Review Meeting through video conferencing was held with the Banks in national Capital by Shri Shaktikanta Das, Secretary, Economic Affairs before the opening of the issue. To increase the awareness amongst potential depositors, the Government had also launched the media campaign through AIR, FM radio, Print media, Mobile SMS, facebook and twitter.
It may be recalled that during the First Tranche of SGB issued in November 2015, 62169 applications were accepted for a total subscription of 915.953 Kilograms of gold amounting to Rs 246.20 crore by the Banks and Post Offices. In the Second Tranche of SGB from 18th January, 2016 to 22nd January, 2016, approximately 3.16 lakh applications were accepted for a total subscription of 2872.3 Kilograms of gold amounting to Rs 746.80 Cr crore by the Banks.
Earlier, the Government of India had launched the Sovereign Gold Bond (SGB) Scheme on 5th November, 2015. The objective of the scheme is to reduce the demand for physical gold and shift a part of the domestic savings used for purchase of gold, into financial savings.
Sovereign Gold Bonds are issued on behalf of Government of India in tranches by RBI, from time to time, on payment of the required amount in rupees. The Bonds are denominated in grams of gold and are restricted for sale to resident Indian entities including individuals, HUFs, trusts, Universities, charitable institutions. Minimum permissible investment is two grams of gold, value of which is to be paid in rupees. The maximum amount which could be subscribed is 500 grams per person per financial year. Government has fixed the rate of interest on gold bonds for the year 2015-16 as 2.75 % per annum, payable on half yearly basis. The tenor of the Bond is for a period of 8 years with exit option from 5th year onwards. On maturity, the investor will get the equivalent rupee value of the quantum of gold invested at the then prevailing price of gold. Exemption, from capital gains is available at redemption. Detailed information about the scheme is also available on the website www.finmin.nic.in/swarnabharat and on the toll free number 18001800000.
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