RBI
Sovereign Gold Bond Scheme 2020-21 opens today
Mumbai: The Sovereign Gold Bond Scheme 2020-21 will open for subscription from Monday, officials said.
The scheme will be open till Nov 13.
It is offered by the Reserve Bank of India.
"In terms of GoI notification F.No.4(4)-B(W&M)/2020 and RBI circular IDMD.CDD.No.730/14.04.050/2020-21 dated October 09, 2020, the Sovereign Gold Bond Scheme 2020-21-Series VIII will be opened for subscription for the period from November 09 to 13, 2020," read a statement issued by the RBI.
"The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. November 04 - 06, 2020 works out to ₹5,177/- (Rupees five thousand one hundred seventy seven only) per gram of gold," the RBI said in a statement on Monday.
"Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50/- per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond will be ₹5,127/- (Rupees five thousand one hundred twenty seven only) per gram of gold," it said.
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