To any extent further, the sovereign gold bonds (SGB) can be subscribed on the newly-launched Reserve Financial institution of India (RBI) Retail Direct Portal. Subscription of the Sovereign Gold Bond Scheme 2021-22 – Collection VIII is now open.
On Thursday, the RBI mentioned, “The Sovereign Gold Bond Scheme 2021-22 – Collection VIII, which is open for subscription until December 3, 2021, can be out there via RBI Retail Direct Portal at https://rbiretaildirect.org.in.”
Thus far, the bonds have been bought via banks (besides small finance banks and cost banks), Inventory Holding Company of India Ltd (SHCIL), designated publish workplaces, and recognised inventory exchanges viz., Nationwide Inventory Trade of India Ltd and Bombay Inventory Trade Ltd.
Earlier in November, Prime Minister Narendra Modi had launched the RBI Retail Direct Scheme, beneath which people can instantly buy treasury payments, dated securities, SGB and state improvement loans (SDLs) from the first in addition to secondary market.
In keeping with the scheme, retail traders (people) can have the ability to open a web-based Retail Direct Gilt Account (RDG Account) with the Reserve Financial institution of India (RBI). These accounts could be linked to their financial savings financial institution accounts.
The RDG Accounts of people can be utilized to take part in issuance of presidency securities and secondary market operations via the display screen based mostly NDS-OM.
NDS-OM, a display screen based mostly digital nameless order matching system for secondary market buying and selling in authorities securities owned by the RBI, is at the moment open solely to establishments like banks, major sellers, insurance coverage corporations and mutual funds.
With company inputs
Supply: Live Mint