Sovereign Gold Bond scheme 2021-22: Series 9 opens on Monday. Check particulars

Sovereign Gold Bond scheme 2021-22: The Government of India (GoI) has introduced the date for opening of Sovereign Gold Bond scheme 2021-22 (Series IX) for subscription. The 5-day subscription of the brand new sequence will open on tenth January and it’ll stay open for bidding until 14th January 2022. The Reserve Bank of India (RBI) will problem the bonds on behalf of GoI.

Issue worth

The problem worth of the brand new sequence of Sovereign Gold Bond scheme 2021-22 has been mounted at ₹ ₹4,786 per gram, the central financial institution of India mentioned in a press release. So, taking the latest dip in yellow steel in account, the GoI has slashed the problem worth of the brand new sequence by ₹5 per gm as problem worth of the sequence 8 was worth at ₹4,791 per gm.

Reward for on-line bidders

Online bidders making use of for the bond will get ₹50 rest as problem worth of the brand new sequence for such candidates has been mounted at ₹4,736 per gram. The GoI, in session with the RBI, has determined to supply a reduction of ₹50 per gram to these buyers making use of on-line and the cost towards the appliance is made by means of digital mode.

“For such (online or digital) investors, the issue price of gold bond will be ₹4,736 per gram of gold,” the RBI mentioned.

Where to use

Investors who need to apply for Sovereign Gold Bond scheme 2021-22, sequence 9 might be offered by means of banks Stock Holding Corporation of India Limited (SHCIL), designated publish workplaces and recognised inventory exchanges — NSE and BSE.

The bonds are denominated in multiples of gram(s) of gold with a fundamental unit of 1 gram. The tenor of the bond might be for a interval of 8 years with exit choice after fifth yr to be exercised on the subsequent curiosity cost dates.

Investment restrict

Minimum permissible funding is one gram of gold. The most restrict of subscription is 4 kg for particular person, 4 kg for HUF and 20 kg for trusts and related entities per fiscal (April-March).

KYC eligibility

The know-your-customer (KYC) norms would be the identical as that for buy of bodily gold.

Sovereign Gold Bond scheme was launched in November 2015 with an intention to scale back the demand for bodily gold and shift part of the home financial savings — used for the acquisition of gold — into monetary financial savings.

(With inputs from PTI)

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