Great earning opportunity! Reserve Bank will sell cheap gold from Monday, know things related to price and discount
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Sovereign Gold Bond Scheme: If you are planning to invest in gold then this is a great opportunity for you. You can invest in gold bonds being sold by the Reserve Bank. The issue price for the next tranche of RBI government gold bonds has been fixed at Rs 6,199 per gram. The issue will open for five days from December 18. Government Gold Bond (SGB) Scheme 2023-24 Series-3 will be open for investment during December 18-22, 2023. RBI said in a statement that the price of gold bond of 999 purity is Rs 6,199 per gram. The central government has decided to give a discount of Rs 50 per gram from the face value to investors who apply online and make payment through digital means. After this, the next series of gold bonds is scheduled for 12-16 February. The Central Bank actually issues bonds on behalf of the Government of India. These can be sold only to resident individuals, Hindu Undivided Families (HUF), trusts, universities and charitable institutions. RBI said that the tenure of SGB will be for eight years, in which it can be prematurely encashed after the 5th year. This option can be exercised on the date on which interest is payable.
Where can you buy gold bonds
SGBs are issued by scheduled commercial banks (except small finance banks, payments banks and regional rural banks), Share Holding Corporation of India Limited (SHCIL), Settlement Corporation of India Limited (CCIL), designated post offices, National Stock Exchange India Limited and Bombay Stock Exchange Limited. Will be sold through. In this, investors will be given 2.5 percent interest annually on the investment value on half yearly basis. The maximum limit of subscription is four kilograms for individuals, four kilograms for HUF (Hindu Undivided Family) and 20 kilograms for trusts and similar institutions. Apart from this, if you want, you can invest in it through your demat account.
Bond came first in 2015
India’s apex bank has said in its statement that the sale of gold bonds was first started in November 2015 as a part of reducing the demand for traditional gold and domestic savings. This bond is denominated in multiples of the basic unit of one gram. The maturity period of the gold bond will be eight years but there will be an option to exit after completion of five years. Under this scheme, minimum investment can be made in one gram of gold while the maximum limit is up to four kilograms.
What is Reserve Bank of India Sovereign Gold Bond
Sovereign Gold Bonds issued by the Reserve Bank of India are a special type of financial security issued for the purpose of mobilizing financial resources for the Government of India. This bond has a fixed tenure and a fixed interest rate, which means that investors are given income in the form of interest at regular intervals and the principal amount is returned on time. Reserve Bank of India Sovereign Gold Bonds provide a useful financial source for the Indian Government and provide a stable and safe investment opportunity for them. It provides financial security to investors like gold, which means that they provide capital to the government and can earn interest by investing against it. Government Sovereign Gold Bonds help finance the economic plans and projects of the Indian government and help meet various financial goals. Please note that the disputed and primary details of the Sovereign Gold Bond may change over time, so you may need to check the details and get the most up-to-date information.
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