SoBoGo is nothing but the Sovereign Bonds Gold Scheme.
Here is a tongue-in-cheek interpretation by CapitalMind.
The Objective
Because people like you keep buying gold in bars and coins – a full 300 tons worth of it every year – India has to import the yellow metal and pay precious dollars for it. 300 tons is, let’s see, 1 ton is 1000 kg. Each kg of gold costs about Rs. 25-30 lakh rupees, which is 50,000 dollars. 1000 kg or one ton then is 50 million dollars. And 300 tons is a whopping $15 billion. That is a lot of money.
So to save that, you are going to be convinced to buy Gold Bonds instead. SO that saves you from having to actually buy gold coins or bars, and you will still benefit from the increase in price of gold. And so India won’t have to import that much gold and so on. And you get a nominal interest on the bonds. (Take that! Can gold pay you interest?)
I do not know how this works because the mentality of the person buying gold bars or coins is apparently like this: I want to buy a gold bar or coin. Oh great, you have a piece of paper that is somehow equivalent! I cannot believe my luck! Said nobody. Okay a few, like the people who bought:
Full article at http://capitalmind.in/2015/09/enter-sobogos-the-sovereign-gold-bond-scheme-explained-in-a-way-that-wont-put-you-to-sleep/
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