Mumbai: The Sovereign Gold Bond Scheme 2021-22 – Series II or the second tranche is accessible for subscription from today (May 24).
The situation opens today for subscription and can shut on May 28. The situation price for the second tranche of the sovereign gold bond situation has been fixed at Rs 4,842 per gram, the Reserve Bank of India stated.
The authorities has determined to situation the bonds in six tranches from May 2021 to September 2021. The RBI will situation the bonds on behalf of the Government of India.
“The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period… Works out to Rs 4,842 per gram of gold,” the RBI stated in an announcement.
The authorities in session with the RBI has determined to supply a reduction of Rs 50 per gram lower than the nominal worth to these traders making use of on-line and the fee towards the appliance is made via digital mode.
“For such investors, the issue price of gold bond will be Rs 4,792 per gram of gold,” it stated.
What is Sovereign Gold Bond Scheme?
Sovereign Gold Bond Scheme are authorities securities denominated in grams of gold. They are substitutes for holding bodily gold. Investors should pay the problem price in money and the bonds shall be redeemed in money on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.
How will the Sovereign Gold Bond Scheme be offered?
The bonds shall be offered via scheduled industrial banks (besides Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated submit places of work, and recognised inventory exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
Who can purchase Sovereign Gold Bond Scheme?
The Bonds shall be restricted for sale to resident people, HUFs, Trusts, Universities and Charitable Institutions.
