The Sovereign Gold Bond Scheme 2021-22-Series-III or the third tranche will be open for membership from today (May 31) to June 4, 2021. The issue cost for Sovereign Gold Bond Scheme 2021-22, which is open for membership for five days, has been fixed at Rs 4,889 for every gram of gold, the Reserve Bank of India (RBI) said.
Prior, the public authority had reported giving the Sovereign Gold Bond (SGB) in six tranches from May 2021 to September 2021. The RBI will give the bonds to the Government of India.
The legislature of India, in meeting with the Reserve Bank of India, has chosen to bring to the table a markdown of Rs 50 for every gram not exactly the ostensible worth to those financial backers applying on the web and the installment against the application is made through advanced mode. For such financial backers, the issue cost of Gold Bond will be Rs 4,839 for every gram of gold, according to the reports.
The ostensible worth of the bond dependent on the straightforward normal shutting cost for gold of 999 virtue of the last three working days of the week going before the membership period...Works out to Rs 4,889 for every gram of gold," said the RBI, which gives the bonds in the interest of the focal government.
What is Sovereign Gold Bond Scheme?
Sovereign Gold Bond Scheme are government protections designated in grams of gold. They are substitutes for holding actual gold. Financial backers need to follow through on the issue cost in real money and the securities will be recovered in real money on development. The Bond is given by Reserve Bank for the benefit of the Government of India.
How might the Sovereign Gold Bond Scheme be sold?
The bonds will be sold through planned business banks (with the exception of Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), assigned mail depots, and perceived stock trades viz., National Stock Exchange of India Limited, and Bombay Stock Exchange Limited.
Who can purchase Sovereign Gold Bond Scheme?
The Bonds will be limited available to be purchased to inhabitant people, HUFs, Trusts, Universities and Charitable Institutions.