With reference to Sovereign Gold Bond Scheme 2020-21, consider following statements

1. It is issued by Reserve Bank of India on behalf of the Government of India.
2. The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
3. The Bonds will be sold only through Scheduled Commercial banks.
4. The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.

Select the correct statement.

• Recently, The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds. 
• Eligibility: The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
• Denomination: The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
• The Bonds will be sold through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.Hence satement 3rd is incorrect.

By: Shubham Tiwari