Investors will be indemnified at a fixed rate of 2.50 percent per annum payable semi-annually on the face value
Sovereign Gold Bonds: The next tranche of 2021-22 gold sovereign bonds will be open for subscription for five days from October 25, the finance ministry said in a statement on Thursday. Series 2021-22 bonds will be issued in four tranches from October 2021 to March 2022, bringing the total to 10. As part of the series, the bonds were issued in six tranches from May 2021 to September 2021. La subscription period for 2021 – Series 22-VII will run from October 25 to 29 and the bonds will be issued on November 2, the finance ministry said in a statement.
The bonds will be sold through banks (except small financing banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), post offices designated and recognized stock exchanges (National Stock Exchange of India and Bombay Stock Exchange).
The Reserve Bank of India will issue the bonds on behalf of the Indian government. The bond price will be set in Indian Rupees based on the simple average of the closing prices of 999 purity gold, published by the India Bullion and Jewelers Association Ltd for the last three working days of the week preceding the period. subscription.
The issue price of gold bonds will be Rs 50 per gram less for those who subscribe online and pay digitally. The term of the bond will be eight years with an exit option after the fifth year to be exercised at the next interest payment dates.
Investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on face value, the ministry said, adding that the minimum investment allowed will be 1 gram of gold. The maximum subscription limit will be 4 kg for individuals, 4 kg for HUFs and 20 kg for trusts and similar entities by fiscal (April-March).
Know Your Customer (KYC) standards will be the same as for purchasing physical gold. The sovereign gold bond program was launched in November 2015, with the aim of reducing the demand for physical gold and transferring part of the national savings – used for the purchase of gold – to savings financial.
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