Govt to issue 4 tranches of Sovereign Gold Bonds from October 2021 to March 2022

• Integrity Education, Delhi
• 22, Oct 2021

Centre in consultation with RBI has decided to issue four tranches of Sovereign Gold Bonds from October 2021 to March 2022. As the statement of RBI, Subscription for the next tranche can be done between 25th October to 29th October.

The Bonds will be sold through Scheduled Commercial banks, designated post offices, and Stock exchanges. Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. It will be denominated in multiples of gram of gold with a basic unit of 1 gram and Minimum permissible investment will be 1 gram of gold. Price of Bond will be fixed 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 working days of the week preceding the subscription period. Discount of ₹50 per gram will be given for those who will subscribe it online and pay through digital mode.

Sources : News On Air