The Sovereign Gold Bonds 2018-19 (Series V) will be opened for the period from 14th to 18th January, 2019. The Issue Price of the Bond during this subscription period shall be Rs. 3,214 per gram with the Settlement Date of January 22, 2019.
About:
Background: The Sovereign Gold Bond was launched by Government of India in 2015.
Objective of the scheme: To reduce the demand for physical gold and shift a part of the domestic savings into financial assets.
Issuance: To be issued by Reserve Bank India on behalf of the Government of India.
Eligibility: The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.
Interest Rate: The bonds carry a 2.5 % annual interest for investors and investors will get the interest payable semi-annually on the nominal value of investment.
Tenure: The tenure of the Bond will be for a period of 8 years with exit option in 5th, 6th and 7th year, to be exercised on the interest payment dates.
Limits:
Minimum permissible investment will be 1 gram of gold.
The maximum limit of subscribed shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal year.
Dear Student,
You have still not entered your mailing address. Please enter the address where all the study materials will be sent to you. (If applicable).
