Mumbai: Price Problems for the Gold Sovereign Bond Scheme 2021-22, which will open to subscribe for five days from July 12, has been set at Rs 4,807 per gram of gold, said Bank of India’s reserve on Friday.
The Sovereign Gold Bond Scheme 2021-22 – The fourth Series IV or Tranche will be open to subscribe from 12-16 July 2021.
“Nominal value of bonds …
Working to Rs 4,807 per gram of gold,” RBI said.
The government, in consultation with the Reserve Bank of India (RBI), also provides a discount Rs 50 per gram to investors who apply online and payments to applications made through digital mode.
“For such investors, the problem of gold bond prices will be Rs 4,757 per gram of gold,” RBI said.
Price Problems for Series III, which are open to subscribing during May 31 to June 4, 2021, is Rs 4,889 / GM.
Previously, the government has announced it will issue Sovereign Gold Bonds (SGB) in six stages from May 2021 to 2021.
RBI will issue bonds on behalf of the Indian government.
Bonds will be sold through banks (except small financial banks and payment banks), Holding Corporation of India Limited (Shil), designated post offices, and recognized stock markets, limited Indian stock exchanges and BSE.
As many as Rs 25,702 Crore have been appointed through SGB schemes until the end of March 2021 from the start.
The reserve bank has published 12 tranches SGB for the aggregate amount of RS 16,049 Crore (32.35 tons) for 2020-21.
This scheme was launched in November 2015 with the aim of reducing demand for physical gold and shifting part of domestic savings – used for purchasing yellow metals – become financial savings.
Bond prices are repaired in Indian Rupees based on the simple average 999 gold closing price, published by Bullion Associations and Indian jewelry limited to the last three working days in the subscription period.
Bonds are recognized in multiples of grams of gold with a basic unit of 1 gram.
The tenor of the bond is for a period of 8 years with the outgoing option after the 5th year must be done on the next interest payment date.
The minimum investment permitted is 1 gram of gold.
The subscription maximum limit is 4 kg for individuals, 4 kg for Hindu families that are not divided (HUF) and 20 kg for trust and similar entities per fiscal (april-march).
Norma Know-Your-Your-Your-Your (KYC) is the same as the purchase of physical gold.