INSUBCONTINENT EXCLUSIVE:
SGB is issued by Reserve Bank India on behalf of Government of India.
The fifth series (Series V) of
Sovereign Gold Bonds scheme (SGBs) 2019-20 opened for subscription on Monday
SGB, a government-run scheme, allows gold investments in non-physical form
For the current series of gold bonds, the price of one gram of gold has been kept at Rs 3,788, according to a statement by the Reserve Bank
The RBI is offering a discount of Rs 50 per gram on the original value to investors applying online
The subscription of SGB Series V will end on October 11 and the settlement date for the same is October 15
Here are 10 things to know about Sovereign Gold Bond (SGB) scheme:SGB is issued by Reserve Bank India on behalf of Government
of India and is sold through scheduled commercial banks (except small finance banks and payment banks), Stock Holding Corporation of India
comprises government securities denominated in gold wherein investors are required to pay the issue price in cash
The bonds are redeemed in cash on maturity.SGB is restricted for sale to resident individuals, HUFs (Hindu Undivided Families), trusts,
universities and charitable institutions, according to RBI.The 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 for the last three working days of
the week preceding the subscription period
draft, cheque and electronic banking (net banking) are allowed as modes of payment for investment in the gold bonds.The 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.The 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.Bonds are
tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.Get Breaking news, live coverage, and Latest
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