Sovereign gold bond Collection VII: The federal government’s Sovereign Gold Bonds Scheme 2021-22 can be opened for subscription throughout the interval October 25-29, and the settlement date has been set at November 2.
The bond can be issued in 4 extra tranches within the present fiscal, mentioned the finance ministry in a press release. Beneath the collection, bonds had been issued in six tranches from Might 2021 to September 2021. The bond is issued by Reserve Financial institution on behalf of the federal government.
The SGBs are authorities securities denominated in grams of gold. In addition to, they’re substitutes for holding bodily gold.
Beneath the scheme, buyers must pay the difficulty worth in money and the bonds can be redeemed in money on maturity.
Sovereign gold bond Collection VII: Difficulty Value
The difficulty worth for Sovereign Gold Bonds has been fastened at Rs 4,765 per gram of gold.
“Authorities of India in session with the Reserve Financial institution of India has determined to permit a reduction of Rs 50 per gram from the difficulty worth to these buyers who apply on-line and the cost is made by means of digital mode,” it mentioned.
“For such buyers, the difficulty worth of ‘Gold Bond’ can be Rs 4,715 per gram of gold.”
Sovereign gold bond Collection VII: Subscription
The primary upcoming tranche – Collection VII, will open for subscription on Monday, October 25 and can shut on October 29 – remaining open for buyers for a interval of 5 days.
The utmost restrict of subscription shall be 4 kg for people, 4 kg for HUF and 20 kg for trusts and comparable entities per fiscal (April-March).
Know Your Buyer (KYC) norms would be the similar as that for the acquisition of bodily gold.
Sovereign Gold Bond (SGB) scheme: Essential Dates
|Tranche||Date of Subscription||Date of Issuance|
|2021-22 Collection VII||October 25-29, 2021||November 2, 2021|
|2021-22 Collection VIII||November 29-December 3, 2021||December 7, 2021|
|2021-22 Collection IX||January 10-14, 2022||January 18, 2022|
|2021-22 Collection X||February 28-March 4, 2022||March 8, 2022|
|Supply: Ministry of Finance|
Sovereign gold bond Collection VII: How To Make investments
The Bonds can be offered by means of Scheduled Business banks (besides Small Finance Banks and Fee Banks), Inventory Holding Company of India Restricted (SHCIL), Clearing Company of India Restricted (CCIL), designated put up places of work, and recognised inventory exchanges viz., Nationwide Inventory Alternate of India Restricted and BSE.
Sovereign gold bond Collection VII: Eligible Investor
The Sovereign gold bond scheme is open to resident people, Hindu Undivided Households or HUFs, trusts, universities, and charitable establishments.