The federal government of India has introduced the dates for the opening of Sovereign Gold Bonds 2021-22 (Sequence VIII) for subscription.
The collection can be open for 5 days of subscription through the interval November 29- December 03. The Reserve Financial institution of India (RBI) will subject the bonds on behalf of the Authorities of India
The problem value of the Bond through the subscription interval has been fastened at ₹4,791 per gram, as notified by the RBI.
The federal government in session with the RBI has determined to permit low cost of ₹50 per gram from the difficulty value to these traders who apply on-line and the fee is made via digital mode.
For such traders the difficulty value of Gold Bond can be ₹4,741 per gram of gold.
Gold bonds have a tenure of eight years with an exit possibility after fifth yr to be exercised on the following curiosity fee dates.
The traders can be compensated at a hard and fast charge of two.50 per cent each year payable semi-annually on the nominal worth whereas the minimal permissible funding can be 1 gram of gold.
The sovereign gold bond scheme was launched in November 2015, with an goal to cut back the demand for bodily gold and shift part of the home financial savings — used for the acquisition of gold — into monetary financial savings.
Supply: Live Mint