Sovereign Gold Bonds Scheme 2021-22 will be issued in four more tranchesThe government's Sovereign Gold Bonds Scheme 2021-22, will be issued in four more tranches in the current fiscal - starting from October 2021 - March 2022, said the finance ministry in a statementtoday.
Thefirst upcoming tranche -Series VII, will open for subscription on Monday, October 25 and will close on October 29 -remaining open for investors for a period of five days.The Reserve Bank of India (RBI) issues the interest-paying bonds linked to the market price of the yellow metal,as part of the sovereigngold bond scheme.
The gold bond sare issued by the RBI on behalf of the government.
( Also Read:What Are Sovereign Gold Bonds? Here's All You Need To Know)Important DatesTrancheDate of SubscriptionDate of Issuance2021-22 Series VIIOctober 25-29, 2021November 2, 20212021-22 Series VIIINovember 29-December 3, 2021December 7, 20212021-22 Series IXJanuary 10-14, 2022January 18, 20222021-22 Series XFebruary 28-March 4, 2022March 8, 2022Source: Ministry of FinanceIssue PriceThe issue price of each tranchewill be fixed in rupees on the basis of a simple average of closing price of gold of 999 purity,by the Mumbai-based India Bullion and Jewellers Association (IBJA)for the last threeworking days of the week preceding the subscription period.
The issue price of the gold bonds will be Rs 50 per gram less for the online subscribers - whopay through the digital mode.How To InvestThe sovereign gold bonds will besold through the scheduled commercial banks (except small finance banks and payment banks), stock holding corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), the designated post offices, and recognised stock exchanges -National Stock Exchange of India and the Bombay Stock Exchange Limited.
The gold bonds are held in the RBI books or in a dematform.Eligible InvestorsThe gold bond scheme is open toresident individuals, Hindu Undivided Families or HUFs, trusts, universities, and charitable institutions.