Every application must be accompanied by the `PAN Number` issued by the Income Tax Department to individuals and other entities. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required. Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time. The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.īonds can be used as collateral for loans. The redemption price will be in Indian Rupees based on simple average of closing price of gold of 999 purity of previous 3 business days published by IBJA.īonds will be sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stack Exchange of India Limited and Bombay Stock Exchange, either directly or through agents. ![]() The Bonds are eligible for issuance and conversion into Demat form. The investors will be issued a Holding Certificate for the same. ![]() The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. 20,000/-) or demand draft or cheque or electronic banking. Payment for the Bonds will be through cash payment (upto a maximum of Rs. 50 per gram less for those who subscribe online and pay through digital mode. The issue price of the Gold Bonds will be Rs. Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the last 3 business days of the week preceding the subscription period. In case of joint holding, the investment limit of 4 KG will be applied to the first applicant only. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the Secondary Market. A self-declaration to this effect will be obtained. The maximum limit of subscribed shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time. ![]() Minimum permissible investment will be 1 gram of gold. The tenor of the Bond will be for a period of 8 years with an exit option from 5th year onwards to be exercised on the interest payment dates. The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. To be issued by Reserve Bank India on behalf of the Government of India. The Features of Sovereign Gold Bond (SGB) Scheme are as under:. The Bonds will be sold through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited. Government of India, in consultation with the Reserve Bank of India, has announced Sovereign Gold Bond Scheme 2023-24 The Sovereign Gold Bonds to be issued in two tranches from December 2023 to February 2024 as per the calendar specified below:
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