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Friday, November 20, 2015

Post offices create awareness on gold bond scheme

Post offices in the western region are looking at collecting deposits for 400 gm gold-equivalent under the sovereign gold bond scheme.

Postmaster General, western region, Manju P. Pillai told The Hindu on Wednesday that under the scheme, investors deposit the amount in the bond instead of buying gold. The post offices in the western region have received application for buying nearly 200 gm gold-equivalent under the scheme. Applications will be received at all the sub post offices till November 20 and will be processed at the head post offices.

Investors will have to pay Rs. 2,684 for a gram of gold and the bonds are available in denominations of two gram, five gram and 10 gram. They will get 2.75 per cent interest per annum, payable half-yearly, she said.

The postal department personnel are creating awareness on the scheme by visiting colleges, government offices and private temples. Some divisions are also distributing pamphlets, explaining the details of the scheme.

The response had been good after Deepavali in place such as Pollachi where women are coming forward to buy the bonds for smaller denominations. “The bonds are a safer option compared to keeping gold at home,” she said.

Investors have to take just an identity proof to the nearest sub-post office to invest in the bond. For details of the scheme, those interested can contact: 0422-2558214, 9443549611 or 9994240540.
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