The main objective of these schemes is to reduce the demand for physical gold and shift a part of the gold imported every year for investment purposes into financial savings through Gold Bonds. 

The first tranche of SGB was issued on behalf of the Government of India by RBI at the branches of scheduled commercial banks and designated post offices through its e-kuber system from 5th November to 20th November. More tranches will be issued during the financial year 2015-16. 

This scheme saw an overwhelming response from the investors throughout the country and initial figures show that about 63,000 applications were received for a total of ₹246.20 crore by the Banks and Post Offices for 917 kgs of gold. 

It may be noted that this overwhelming response has been received from the retail investors who are the focus of this scheme.