Sovereign Gold Bonds New Issue Soon : 10 Things you need to know
The Sovereign Gold Bond Scheme 2022-23 The Series II will be available for purchase for five consecutive days beginning the 22nd of August, tomorrow.
The price of the issue in the next tranche of the Sovereign Gold Bond Scheme (SGB) 2021-22 which will begin accepting applications for five days beginning Monday, has been set at Rs 5,197/g gold.
10 THINGS YOU NEED TO KNOW ABOUT SOVEREIGN GOLD BONDS
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1) It is the RBI issues bonds for the Centre.
2.) Bonds will be sold via banks Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges - NSE as well as BSE.
3.) These bonds can be rated in multiples of grams (s) in gold, with an initial unit of 1 gram.
3.) These bonds can be rated in multiples of grams (s) in gold, with an initial unit of 1 gram.
4.) The Tenor of the bond will run for 8 years, with an exit option following the 5th year that can be exercised upon the next date for interest payments.
5) The minimum investment that is permissible is 1 grams of gold.
6.) The maximum subscription is 4 kg per person, 4 kg for HUF and 20 kg in trusts or similar entities for the period (April-March).
7.) The Know-your customer (KYC) rules apply for purchasing physical gold.
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8.) Central government working and with the Reserve Bank of India, has agreed to offer the discount of Rs50 per kilogram, lower than the nominal value for investors who are applying online.
9) The program was announced in November of 2015 with an aim to cut down on consumption of physical gold and transfer some of the domestic savings
10) The cost of the bond set in Indian currency by an average closing price for gold of 999 purity which is published through the India Bullion and Jewellers Association Limited
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