0

Series 9 opens on Monday. Check details


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 collection 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.

Subject worth

The problem worth of the brand new collection 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 latest dip in yellow steel in account, the GoI has slashed the problem worth of the brand new collection by 5 per gm as problem worth of the collection 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 leisure as problem worth of the brand new collection 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 traders making use of on-line and the fee towards the applying is made by way of digital mode.

“For such (on-line or digital) traders, the problem worth of gold bond will probably be 4,736 per gram of gold,” the RBI stated.

The place to use

Buyers who need to apply for Sovereign Gold Bond scheme 2021-22, collection 9 will probably be bought by way of banks Inventory Holding Company of India Restricted (SHCIL), designated publish 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 will probably be for a interval of 8 years with exit possibility after fifth 12 months 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 related entities per fiscal (April-March).

KYC eligibility

The know-your-customer (KYC) norms would be the identical 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)

Subscribe to Mint Newsletters

* Enter a legitimate e mail

* Thanks for subscribing to our e-newsletter.

By no means miss a narrative! Keep linked and knowledgeable with Mint.
Obtain
our App Now!!

admin

Leave a Reply

Your email address will not be published.