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of <h1>Over 64,000 Applications Received for March 2016 Sovereign Gold Bond Scheme, Totaling Rs. 329 Crore in Gold Subscriptions.</h1> During the third tranche of the Sovereign Gold Bond (SGB) scheme from March 8 to March 14, 2016, over 64,000 applications were received for a subscription of 1128 kilograms of gold, totaling Rs. 329 crore. The bonds are set to be issued on March 29, 2016. Major banks were the top receiving agencies. The scheme, launched in November 2015, aims to reduce physical gold demand and encourage financial savings. The bonds have an 8-year term with an exit option after 5 years, offering a 2.75% annual interest rate. The minimum investment is two grams, and the maximum is 500 grams per person annually.
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