SGB Feb 2024 Series: Know Your Customer (KYC) norms would be the identical as these for buying bodily gold. (Representative picture)
The challenge value of the following tranche of Sovereign Gold Bond, opening for subscription for 5 days from Monday, has been fastened.
Sovereign Gold Bond Issue Price: The challenge value of the following tranche of Sovereign Gold Bond, opening for subscription for 5 days from Monday, has been fastened at Rs 6,263 per gram, the Reserve Bank mentioned in an announcement on Friday.
The Reserve Bank of India points the bonds on behalf of the Government of India.
“The nominal value of the bond … works out to Rs 6,263 per gram of gold,” the central financial institution mentioned.
Sovereign Gold Bond Feb 2024
Sovereign Gold Bond Opening Date: The Sovereign Gold Bond Scheme 2023-24 – Series IV will probably be open for subscription from February 12–16, 2024.
How To Buy Sovereign Gold Bond?
The SGBs will probably be offered by way of scheduled business banks (besides small finance banks, fee banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated submit workplaces, National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
Sovereign Gold Bond Discount By RBI
The Government of India, in session with the Reserve Bank, has determined to supply a reduction of Rs 50 per gram lower than the nominal worth to these buyers making use of on-line and making the fee in opposition to the applying by way of digital mode.
For such buyers, the difficulty value of Gold Bond will probably be Rs 6,213, the RBI mentioned.
Know Your Customer (KYC) norms would be the identical as these for buying bodily gold.
How Sovereign Gold Bond Price Is Calculated?
The value of SGB is fastened in Indian rupees based mostly on the easy common closing value of gold of 999 purity, revealed by the India Bullion and Jewellers Association Limited (IBJA) for the final three working days of the week previous the subscription interval.
Sovereign Gold Bond Interest Rate
The buyers are compensated at a hard and fast charge of two.50 per cent each year payable semi-yearly on the nominal worth.
Maximum Limit Under Sovereign Gold Bond Scheme
The most subscription restrict is 4 kg for people, 4 kg for HUF and 20 kg for trusts and comparable entities per fiscal 12 months.
Sovereign Gold Bond Tenure
The tenure of the SGB will probably be eight years with an choice of untimely redemption after fifth 12 months to be exercised on the date on which curiosity is payable.
The bonds can be utilized as collateral for loans.
Purpose Of Sovereign Gold Bond Scheme
The sovereign gold bond scheme was launched in November 2015 to scale back the demand for bodily gold and shift part of the home financial savings — used for buying gold — into monetary financial savings.
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