Sovereign Gold Bond scheme 2021-22: The Authorities of India (GoI) has introduced the date for opening of Sovereign Gold Bond scheme 2021-22 (Collection 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.
Challenge worth
The difficulty worth 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 a press release. So, taking the current dip in yellow metallic in account, the GoI has slashed the problem worth of the brand new sequence by ₹5 per gm as problem worth of the sequence 8 was worth at ₹4,791 per gm.
Reward for on-line bidders
On-line bidders making use of for the bond will get ₹50 rest as problem worth 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 fee in opposition to the applying is made by means of digital mode.
“For such (on-line or digital) buyers, the problem worth of gold bond can be ₹4,736 per gram of gold,” the RBI stated.
The place to use
Buyers who wish to apply for Sovereign Gold Bond scheme 2021-22, sequence 9 can be offered by means of banks Inventory Holding Company of India Restricted (SHCIL), designated publish workplaces 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 fee 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 comparable 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 intention 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)
Supply: Live Mint