Reserve Bank of India i.e. RBI has opened the subscription of Series IV of Sovereign Gold Bond Program 2022-23. The latest installment of the bond will open for subscription on March 6.
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Reserve Bank of India i.e. RBI has opened the subscription of Series IV of Sovereign Gold Bond Program 2022-23. The latest installment of the bond will open for subscription on March 6. And today i.e. on March 10, 2023 will be closed. According to the press release issued by RBI, the issue price of the latest installment of the bond has been fixed at Rs 5,409 per gram. For the last tranche, RBI had fixed the issue price at Rs 5,409 per gram.
Do note that investors who submit their applications online and pay for their investments electronically will be eligible for a discount of Rs 50 per gram. For such investors, the issue price of the gold bond will be Rs 5,561 per gram of gold.
How is the issue price calculated?
The nominal value of the bond is Rs 5,611 per 10 grams of gold, which is based on the simple average of closing prices. The closing price will be published by the India Bullion and Jewelers Association Limited. This subscription period will be for gold of 999 purity for the last three working days of the week before March 1, March 2 and March 3, 2023.
Let us tell you that Sovereign Gold Bonds are government securities. It is an alternative to physical gold. Investors will have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
RBI issues sovereign gold bonds
RBI issues Sovereign Gold Bonds on behalf of the Government of India. You can buy this gold from the sale of bonds, banks, Stock Holding Corporation of India Limited (SHCIL), post offices and authorized stock exchanges. If you invest in Sovereign Gold Bond (SGB), then its maturity will be after 8 years. However, you can also opt out after 5 years.
You can start investing in Sovereign Gold Bonds with as little as 1 gram of gold. Maximum you can buy gold up to 4 kg. 4 kg for HUF and 20 kg for trust can buy gold. SGBs can be accessed through scheduled commercial banks (excluding small finance banks, payments banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices and stock exchanges NSE and BSE. Will be sold through.
