Last Day To Subscribe To Sovereign Gold Bond Scheme, Here's How To Avail Discount

Plan to invest in gold through bonds? A government-run scheme that allows gold investments in non-physical form will close for subscription today for the month. The second series (Series II) of Sovereign Gold Bond (SGB) scheme 2019-20 will open every month till September, according to a statement by Reserve Bank of India (RBI). The Sovereign Gold Bond (SGB) scheme comprises government securities denominated in gold wherein investors are required to pay the issue price in cash. The bonds are redeemed in cash on maturity..For the current series of gold bonds, the price of one gram of gold has been kept at Rs 3,443. The RBI is offering a discount of Rs 50 per gram on the original value to investors applying online. On May 30 this year, the central bank announced the schedule for issuance of SGBs for the first half of the current financial year..The bonds will be issued every month from June 2019 to September 2019, according to the RBI..Here's the schedule of the issuance of gold bonds under the Sovereign Gold Bond (SGB) scheme:.table.gold_tab { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.gold_tab th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.gold_tab td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.gold_tab th:last-child, table.gold_tab td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.gold_tab { display: table; min-width: 280px; max-width: 100%; font-size: 14px; } table.gold_tab th, table.gold_tab td, table.gold_tab th:nth-child(n+1), table.gold_tab td:nth-child(n+1) { display: table-cell; line-height: normal; } } . Tranche Date of Subscription Date of Issuance 2019-20 Series I June 03-07, 2019 (Completed) 11-Jun-19 2019-20 Series II July 08–12, 2019 16-Jul-19 2019-20 Series III August 05-09, 2019 14-Aug-19 2019-20 Series IV September 09-13, 2019 17-Sep-19 .Here are some other important things to know about Sovereign Gold Bond (SGB) scheme:.Gold bond issuance and sales channel.The sovereign gold bond scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings, used for purchase of gold, into financial savings. It is issued by Reserve Bank India on behalf of Government of India and is sold through scheduled commercial banks (except small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges NSE and BSE, according to the Reserve Bank of India website - rbi.org.in..Gold bond eligibility and tenor.The Sovereign Gold Bond is restricted for sale to resident individuals, HUFs (Hindu Undivided Families), trusts, universities and charitable institutions. The tenor of the bond is for a period of eight years with exit option after fifth year to be exercised on the interest payment dates..Gold bond minimum/maximum size.The minimum permissible amount allowed for investment in SGB is one gram of gold.The maximum limit of the subscription is four kilograms for individuals and HUFs, and 20 kilograms for trusts and similar entities per fiscal year (April-March)..Gold bond issue price.The price of bond is fixed in rupees on the basis of a simple average of closing price of gold of 99.9 per cent purity, published by the India Bullion and Jewellers Association Limited for the last three working days of the week preceding the subscription period. These bonds are tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.

Last Day To Subscribe To Sovereign Gold Bond Scheme, Here's How To Avail Discount

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