Sovereign Gold Bonds to be issued during 22-26 August
Issue price of Rs.5,197 per gram; Rs.5,147 for online purchases
Source - MCX - Futures; per 10 grams
The government will open subscription for Sovereign Gold Bonds (SGBs) 2022-23 (Series II) during 22-26 August 2022 with settlement on 30 August 2022.
The Reserve Bank of India (RBI) said the issue price during the subscription period would be Rs.5,197 per gram.
The bonds will be issued by the RBI on behalf of the Government of India and could be purchased through commercial banks, Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices and recognised stock exchanges (National Stock Exchange of India Limited and Bombay Stock Exchange Limited) either directly or through agents.
The SGBs will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions, and will be denominated in multiples of gram(s) of gold with a basic unit of one gram.
The tenor of the SGB will be for a period of eight years with an option of premature redemption after the fifth year on the date on which interest is payable. The minimum permissible investment is one gram, while the maximum is 4kg for individual, 4kg for HUF and 20kg for trusts and similar entities per fiscal year (April-March).
The government is providing a discount of Rs.50 per gram (ie, issue price of Rs5,147 per gram) to those who apply online and make digital payments.
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