Sovereign Gold Bond: Buy gold at discounted price from today

0
Loading...
Image Source : PIXABAY

Sovereign Gold Bond: Buy gold at discounted price from today

Loading...

The subscription of Sovereign Gold Bond (SGB) will open today. SGBs are government-backed securities denominated in grams of gold. They are substitutes for holding physical gold.

The issue price for Sovereign Gold Bond Scheme 2021-22 Series IV has been fixed at Rs 4,807 per gram of gold. The subscription window will remain open for five days (July 12 to 16).

Investors can buy the bonds by paying the issue price in cash. The bonds will be redeemed in cash on maturity.

Loading...

The Bond is issued by the Reserve Bank on behalf of the Government of India.

“The nominal value of the bond works out to Rs 4,807 per gram of gold,” the RBI said in a statement.

Loading...

The government, in consultation with the RBI, provides a discount of Rs 50 per gram to those investors applying online and the payment against the application is made through digital mode.

“For such investors, the issue price of Gold Bond will be Rs 4,757 per gram of gold,” the RBI said.

The bonds are sold through banks (except small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz National Stock Exchange of India Limited and BSE.

Loading...

The bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the bond is for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates.

Minimum permissible investment is 1 gram of gold. The maximum limit of subscription is 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities per fiscal (April-March).

A total of Rs 25,702 crore has been raised through the SGB Scheme till end-March 2021 since its inception.

Loading...

Latest Business News

Loading...

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here 

Loading...

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Loading...
Leave a comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More