New Delhi: The Sovereign Gold Bond Scheme 2021-22 series I opens for subscription on Monday (May 17, 2021), and will shut on May 21, 2021 and bonds shall be issued on May 25.
The concern worth for Sovereign Gold Bond Scheme 2021-22 has been fastened at Rs 4,777 per gram, the Reserve Bank of India mentioned.
The authorities has determined to concern the bonds in six tranches from May 2021 to September 2021. The RBI will concern 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 4,777 per gram of gold,” the RBI mentioned.
The authorities, in session with the RBI, has determined to provide a reduction of Rs 50 per gram lower than the nominal worth to these buyers making use of on-line and the cost in opposition to the appliance is made by means of digital mode.
“For such investors, the issue price of gold bond will be Rs 4,727 per gram of gold,” the RBI mentioned.
Here’s all you want to find out about your eligibility, how to apply for the Sovereign Gold Bond Scheme.
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 have to pay the problem worth 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 bought?
The bonds shall be bought by means of 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 should buy Sovereign Gold Bond Scheme?
The Bonds shall be restricted on the market to resident people, HUFs, Trusts, Universities and Charitable Institutions.
What would be the tenor of the Sovereign Gold Bond Scheme?
The tenor of the Bond shall be for a interval of 8 years with exit possibility after fifth yr to be exercised on the curiosity cost dates.
What is the funding restrict of the Sovereign Gold Bond Scheme?
Minimum permissible funding shall be 1 gram of gold. The most restrict of subscribed shall be 4 KG for particular person, 4 Kg for HUF and 20 Kg for trusts and related entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this impact shall be obtained. The annual ceiling will embrace bonds subscribed beneath totally different tranches throughout preliminary issuance by Government and these bought from the Secondary Market.
