Sovereign Gold Bond scheme 2021-22: Online bidders applying for the bond will get a rebate of  ₹50 as issue price of the new series for digital applicants has been fixed at  ₹4,736 per gram. (Mint)

Sequence 9 opens on Monday. Examine particulars

Sovereign Gold Bond scheme 2021-22: The Authorities of India (GoI) has introduced the date for opening of Sovereign Gold Bond scheme 2021-22 (Sequence IX) for subscription. The 5-day subscription of the brand new sequence will open on tenth January and it’ll stay open for bidding until 14th January 2022. The Reserve Financial institution of India (RBI) will problem the bonds on behalf of GoI.

Problem value

The difficulty value of the brand new sequence of Sovereign Gold Bond scheme 2021-22 has been mounted at 4,786 per gram, the central financial institution of India stated in an announcement. So, taking the latest dip in yellow steel in account, the GoI has slashed the difficulty value of the brand new sequence by 5 per gm as problem value of the sequence 8 was value at 4,791 per gm.

Reward for on-line bidders

On-line bidders making use of for the bond will get 50 leisure as problem value of the brand new sequence for such candidates has been mounted at 4,736 per gram. The GoI, in session with the RBI, has determined to supply a reduction of 50 per gram to these buyers making use of on-line and the cost in opposition to the applying is made by means of digital mode.

“For such (on-line or digital) buyers, the difficulty value of gold bond can be 4,736 per gram of gold,” the RBI stated.

The place to use

Traders who wish to apply for Sovereign Gold Bond scheme 2021-22, sequence 9 can be bought by means of banks Inventory Holding Company of India Restricted (SHCIL), designated submit places of work and recognised inventory exchanges — NSE and BSE.

The bonds are denominated in multiples of gram(s) of gold with a primary unit of 1 gram. The tenor of the bond can be for a interval of 8 years with exit possibility after fifth yr to be exercised on the subsequent curiosity cost dates.

Funding restrict

Minimal permissible funding is one gram of gold. The utmost restrict of subscription is 4 kg for particular person, 4 kg for HUF and 20 kg for trusts and related entities per fiscal (April-March).

KYC eligibility

The know-your-customer (KYC) norms would be the similar as that for buy of bodily gold.

Sovereign Gold Bond scheme was launched in November 2015 with an purpose to scale back the demand for bodily gold and shift part of the home financial savings — used for the acquisition of gold — into monetary financial savings.

(With inputs from PTI)

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