INSUBCONTINENT EXCLUSIVE:
Sovereign Gold Bond scheme are denominated in multiples of gram(s) of gold with a basic unit of 1 gram.The Sovereign Gold Bonds (SGBs)
SGB is a certificate scheme in which the Reserve Bank of India (RBI) issues bonds on behalf of Government of India
The issue price of the bond during the subscription period will be Rs 3,788 per gram with settlement date of October 15, 2019, said Ministry
of Finance in a statement
The RBI will be offering a discount of Rs 50 per gram on the original value to investors applying online.EligibilityThe Sovereign Gold Bond
(SGB) is restricted for sale to resident individuals, HUFs (Hindu Undivided Families), trusts, universities and charitable institutions,
according to RBI.DenominationThe bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram.TenorThe tenor of the
bond is for a period of eight years with exit option after fifth year to be exercised on the interest payment dates.Investment LimitThe
minimum permissible amount allowed for investment in SGB is one gram of gold
The maximum limit of the subscription is four kilograms for individuals and HUFs, and 20 kilograms for trusts and similar entities per
fiscal year (April-March), which is notified by the government from time to time.Issue priceThe price of bond is fixed in rupees on the
basis of a simple average of closing price of gold of 99.9 per cent purity, published by the India Bullion and Jewellers Association Limited
exchanges within a fortnight of the issuance on a date as notified by the RBI.Get Breaking news, live coverage, and Latest News from India
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