(ET)
The Reserve Bank of India (RBI) has announced that 7.75 per cent Savings (Taxable) bonds, 2018 will not be available for investment from Friday i.e. May 29, 2020. In its press release, the central bank said, “The Government of India (GoI), vide Notification F.No.4(28)-(W&M)/2017 dated May 27, 2020, hereby announces that 7.75% Savings (Taxable) Bonds, 2018 shall cease for subscription with effect from the close of banking business on Thursday, the 28thof May 2020.”
Therefore, you can invest in the RBI 7.75% bonds only today till the end of banking business hours. These bonds are attractive as they are currently offering a higher interest rate as compared to bank fixed deposits and other financial investment instruments offering equal degree of safety. For instance, State Bank of India (SBI), with effect from May 27, 2020, is offering 5.1 per cent on one-year fixed deposit, and 5.4% on a fixed deposit of more than 5 years .
