The federal government's Sovereign Gold Bond Scheme 2021-22 - Series VIII will open on Monday, November 29.
The government said in a press release that the five-day opportunity to purchase digital gold during the eighth tranche of the offer in 2021-22 would conclude on Friday, December 3. The Reserve Bank of India said in a separate news release that the Sovereign Gold Bonds will be issued in four tranches from October 2021 to March 2022 . The Sovereign Gold Bonds, which were first issued in 2015, are government securities valued in grams of gold.
The issuance price of the Sovereign Gold Bond has been set at Rs 4,791 per gram, according to a statement from the finance ministry. One bond is equal to one gram of gold in this situation. While the price per gram of gold is fixed at Rs 4,791, customers who subscribe online and pay in digital method would pay Rs 50 less per gram of gold, according to the government.
The Government of India, in conjunction with the Reserve Bank of India, has agreed to grant a discount of Rs 50 (Rupees Fifty only) per gram to those investors who apply online and pay via digital channel. The issuing price of a Gold Bond for such investors would be Rs 4,741 (Rupees Four Thousand Seven Hundred Forty One only) per gram of gold "read the finance ministry's announcement
Sovereign Gold Bonds can be used as collateral for loans, according to RBI standards. Any individual investor can subscribe for as little as one gram and as much as four kilos. Hindu Undivided Families can also purchase up to 4 kilogramme of gold, or 4,000 bonds. The weight restriction for trusts and other organisations is fixed at 20 kg.
Even minors can also purchase bonds if their guardian submits an application on their behalf.
One purchase these bonds from all major banks, the Stock Holding Corporation of India Limited (SHCIL), the Clearing Corporation of India Ltd. (CCIL), authorised post offices, and recognised stock exchanges such as the Bombay Stock Exchange and the National Stock Exchange can all purchase sovereign gold bonds.
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