Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes for the physical gold. They are bought using cash and are later redeemed after maturity in cash form after 8 years. The SGBs are issued by the Reserve Bank of India. The Central Bank recently announced that the Sovereign Gold Bond Scheme 2021-22 would last until September 30. These bonds will be sold under this scheme in six phases until the proposed deadline.