The problem value for Sovereign Gold Bond Scheme 2021-22, which can open for subscription for 5 days from July 12, has been mounted at Rs 4,807 per gram of gold, the Reserve Bank of India stated on Friday.
The Sovereign Gold Bond Scheme 2021-22 – Series IV or the fourth tranche might be open for subscription from July 12 – 16, 2021.
“The nominal value of the bond…works out to Rs 4,807 per gram of gold,” the RBI stated.
The authorities, in session with the Reserve Bank of India (RBI), additionally supplies a reduction of Rs 50 per gram to these traders making use of on-line and the cost towards the applying is made by way of digital mode.
“For such investors, the issue price of Gold Bond will be Rs 4,757 per gram of gold,” the RBI stated.
The problem value for Series III, which was open for subscription throughout May 31 to June 4, 2021, was Rs 4,889/gm.
Earlier, the federal government had introduced it’ll problem the Sovereign Gold Bond (SGB) in six tranches from May 2021 to September 2021. The RBI will problem the bonds on behalf of the Government of India.
The bonds might be bought by way of banks (besides small finance banks and cost 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 BSE.
A complete of Rs 25,702 crore has been raised by way of the SGB Scheme until end-March 2021 since its inception.
The Reserve Bank had issued 12 tranches of SGB for an combination quantity of Rs 16,049 crore (32.35 tonnes) throughout 2020-21.
The scheme was launched in November 2015 with an goal to cut back the demand for bodily gold and shift part of the home financial savings — used for the acquisition of the yellow metallic — into monetary financial savings.
Price of the bond is mounted in Indian rupees on the premise of easy common of closing value of gold of 999 purity, printed by the India Bullion and Jewellers Association Limited for the final three working days of the week previous the subscription interval.
The bonds are denominated in multiples of gram (s) of gold with a primary unit of 1 gram. The tenor of the bond is for a interval of 8 years with exit possibility after fifth yr to be exercised on the following curiosity cost dates.
Minimum permissible funding is 1 gram of gold. The most restrict of subscription is 4 kg for particular person, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and comparable entities per fiscal (April-March).
The know-your-customer (KYC) norms are the identical as that for buy of bodily gold.
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