New Delhi: The Sovereign Gold Bond Scheme 2021-22- Series-III or the third tranche will probably be open for subscription from at present (May 31) to June 4, 2021.
The issue worth for Sovereign Gold Bond Scheme 2021-22, which is open for subscription for 5 days, has been mounted at Rs 4,889 per gram of gold, the Reserve Bank of India (RBI) mentioned.
Earlier, the federal government had introduced to issue the Sovereign Gold Bond (SGB) in six tranches from May 2021 to September 2021. The RBI will issue 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 working days of the week preceding the subscription period…Works out to Rs 4,889 per gram of gold,” mentioned the RBI, which points the bonds on behalf of the central authorities.
Government of India, in session with the Reserve Bank of India, 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 in opposition to the appliance is made by means of digital mode.
“For such investors, the issue price of Gold Bond will be Rs 4,839 per gram of gold,” it mentioned.
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 must pay the issue worth in money and the bonds will probably 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 will probably be offered by means of scheduled business banks (besides Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated publish 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 will probably be restricted on the market to resident people, HUFs, Trusts, Universities and Charitable Institutions.
