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Sovereign Gold Bond Scheme 2020-21 collection VI opens right now: How you can apply, worth, eligibility and extra | Bullion Information

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New Delhi: The Sovereign Gold Bond Scheme 2020-21 collection VI will open for subscription on Monday (August 31, 2020), and shut on September 4, 2020.

The difficulty worth for the sixth tranche of the Sovereign Gold Bond Scheme has been fastened at Rs 5,117 per gram, the RBI mentioned in an announcement.

The difficulty worth for the bonds (collection V), which had been open for subscription from August three to August 7, was Rs 5,334 per gram of gold. 

The sovereign gold bond scheme was launched in November 2015 with an goal to cut back the demand for bodily gold and shift part of the home financial savings, used for the acquisition of gold, into monetary financial savings. The RBI issued 10 tranches of Sovereign Gold Bonds (SGBs) for an combination quantity of Rs 2,316.37 crore (6.13 tonnes) throughout 2019-20. 

Right here’s all it is advisable to learn about your eligibility, the way to apply for the Sovereign Gold Bond Scheme.

What’s Sovereign Gold Bond Scheme?

Sovereign Gold Bond Scheme are authorities securities denominated in grams of gold. They’re substitutes for holding bodily gold. Traders should pay the difficulty worth in money and the bonds will probably be redeemed in money on maturity. The Bond is issued by Reserve Financial institution on behalf of Authorities of India.

How will the Sovereign Gold Bond Scheme be bought?

The bonds will probably be bought via scheduled industrial banks (besides Small Finance Banks and Cost Banks), Inventory Holding Company of India Restricted (SHCIL), designated submit workplaces, and recognised inventory exchanges viz., Nationwide Inventory Alternate of India Restricted and Bombay Inventory Alternate Restricted.

Who should buy Sovereign Gold Bond Scheme?

The Bonds will probably be restricted on the market to resident people, HUFs, Trusts, Universities and Charitable Establishments.

What would be the tenor of the Sovereign Gold Bond Scheme?

The tenor of the Bond will probably be for a interval of eight years with exit choice after fifth 12 months to be exercised on the curiosity fee dates.

What’s the funding restrict of the Sovereign Gold Bond Scheme?

Minimal permissible funding will probably be 1 gram of gold. The utmost restrict of subscribed shall be Four KG for particular person, Four Kg for HUF and 20 Kg for trusts and related entities per fiscal (April-March) notified by the Authorities every now and then. A self-declaration to this impact will probably be obtained. The annual ceiling will embody bonds subscribed below totally different tranches throughout preliminary issuance by Authorities and people bought from the Secondary Market.

Subject worth and on-line worth of Gold Bond

The nominal worth of the bond primarily based on the easy common closing worth [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the final three enterprise days of the week previous the subscription interval, i.e. Aug 26 – Aug 28, 2020 works out to Rs 5,117 (Rupees 5 thousand 100 and seventeen solely) per gram of gold, an RBI round mentioned.

Authorities of India, in session with the Reserve Financial institution of India, has determined to supply a reduction of Rs 50 per gram lower than the nominal worth to these buyers making use of on-line and the fee towards the applying is made via digital mode. For such buyers, the difficulty worth of Gold Bond will probably be Rs 5,067 (Rupees 5 thousand and sixty seven solely) per gram of gold. Traders who apply on-line and the fee towards the applying is made via digital mode will get it at Rs 50 per gram lower than the nominal worth. For such buyers, the difficulty worth of Gold Bond will probably be Rs 5,284 (Rupees 5 thousand 200 and eighty 4 solely) per gram of gold.



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