MF distributors can subscribe to gold bonds for clients

Mumbai: Top stock exchange BSE has decided to permit mutual fund distributors to subscribe to sovereign gold bonds issue for their respective clients, through the bourse's mutual fund platform.

The 5th tranche of sovereign gold bonds will open from today up to September 9.

"Sovereign gold bond scheme (SGB) will be open for subscription on BSE StAR MF Platform from tomorrow September 1, 2016, to Friday September 9, 2016 for mutual fund distributors (MFDs) to subscribe to the issue for their client," BSE said in a circular on Wednesday .

"The facility shall be available only on BSE StAR MF Web Portal and shall be available for transaction in demat mode," it added.

The Finance Ministry had yesterday said that applications for the bonds will be accepted from September 1 for nine days and the bonds will be issued on September 23.