New Delhi: The Finance Ministry said the Sovereign Gold Bond 2023-24 (Series 4) will be opened for subscription during February 12-16, with its settlement date being February 21. Gold bonds will be issued by RBI at a price of Rs 6,263 per gram. The government, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50 per gram from the issue price of Sovereign Gold Bond to investors who apply online and the payment is made through digital mode.
The issue price of gold bonds for such investors will be Rs 6,213 per gram of gold. Payment for the Bond will be through cash payment (maximum Rs. 20,000/-) or demand draft or check or electronic banking. SGBs will be available through various channels, including scheduled commercial banks, Stock Holding Corporation of India (SHCIL), Clearing Corporation of India (CCIL), designated post offices and recognized stock exchanges, such as National Stock Exchange (NSE) and Bombay Stock Exchange. Exchange (BSE).
The Central Bank actually issues gold bonds on behalf of the Government of India. These can be sold only to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions.?The gold bond scheme was first introduced in November?2015 with the intention of reducing the physical demand for gold.
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