SGB Scheme 2021-22: Investment opportunity in Sovereign Gold Bond, subscription will start from May 17, see details
SGB Scheme: The first sovereign gold bond scheme of the financial year 2021-22 is starting from 17 May.
New Delhi:
SGB Scheme 2021-22: For FY 2021-22 Sovereign Gold Bond The first sale of will begin on May 17 i.e. Monday and will be open for five days. The Finance Ministry said in a statement on Wednesday that Sovereign Gold Bonds will be issued in six installments between May and September. Under the first installment of FY 2021-22, purchases can be made between May 17 and 21 and bonds will be issued on May 25.
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Where to buy
According to the ministry, the bonds will be sold through the Stock Holding Corporation of India Limited, designated post offices and recognized stock exchanges, the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited. Small finance banks and payment banks will not be allowed to sell bonds. These bonds will be issued by the Reserve Bank on behalf of the Government of India.
What will be the emotion
The Finance Ministry said that the price of gold bond will be at the normal average price of the price issued by India Bullion and Jewelers Association Limited. This price will be the average price of 999 purity gold during the last three business days of the week before the investment period. Those paying online or digital to buy bonds will get a discount of Rs 50 per gram in the bond price.
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What will be the period
The bond will have a duration of eight years, with the option to withdraw from the bond on the next interest payment date after five years. Investment in gold baud can be done as per the basic unit of one gram. At least one gram of gold will have to be invested.
Who can buy
According to the statement, any person and a Hindu undivided family can buy bonds up to a maximum of four kilograms, while the maximum purchase limit for trusts and similar entities is 20 kg. Know your customer to buy bonds (KYC) norms will be the same as buying gold from the market. The government’s Savren Gold Bond Scheme was launched in November 2015.
(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)