New Delhi: The Sovereign Gold Bond Scheme 2023-24 – Series IV will be open for subscription from today (Monday, February 12).
This is a great opportunity for investors to invest in gold, a safe asset backed by the Central Government. Subscription of the Sovereign Gold Bond Scheme (SGB) 2023-24 – Series IV will begin on February 12 and will remain open until February 16, 2024. The RBI has announced that the installment of SGB 2023-24 – Series IV will be has been fixed at Rs 6,263 per gram.
Issuance Price of the Sovereign Gold Bond 2023-24 Series IV
“The face value of the bond is based on the simple average of the closing price (published by India Bullion and Jewelers Association Ltd (IBJA)) for gold with a purity of 999 of the last three business days of the week preceding the period of subscription i.e. February. “February 7, February 8 and February 9, 2024 are equivalent to ₹6,263/- (Rupees six thousand two hundred and sixty-three only) per gram of gold,” the RBI said in a statement.
Sovereign Gold Bond 2023-24 Series IV: Discount for online and digital investors
The Government of India in consultation with the Reserve Bank has decided to offer a discount of Rs 50 per gram less than the face value to those investors who apply online and make application payment through mode digital. For such investors, the issue price of the gold bond will be Rs 6,213 (only six thousand two hundred and thirteen rupees) per gram of gold.
Where can you buy gold?
The sale of the bond will be carried out through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges BSE and NSE.
What is the sovereign gold bond scheme?
The Sovereign Gold Bond Plan are public securities denominated in grams of gold. They are substitutes for holding physical gold. Investors must pay the issue price in cash and the bonds will be redeemed in cash at maturity. The Bond is issued by the Reserve Bank on behalf of the Government of India.
How will the sovereign gold bond scheme be sold?
The bonds will be sold through scheduled commercial banks (except small finance banks and payments banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges, namely National Stock Exchange of India Limited and Bombay Stock Exchange. Limited.
Who can buy the sovereign gold bond scheme?
The sale of the Bonds will be restricted to resident persons, HUFs, trusts, universities and charitable institutions.