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'Gold Bond' VII to be issued at Rs 4,765 per gram
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SME Times News Bureau | 24 Oct, 2021
The issue price for Sovereign Gold Bonds has been fixed at Rs 4,765 per gram of gold.
According
to the Ministry of Finance, the Sovereign Gold Bond Scheme 2021-22
(Series VII) will be opened for subscription during the period October
25-29, and the settlement date has been set at November 2.
"Government
of India in consultation with the Reserve Bank of India has decided to
allow discount of Rs 50 per gram from the issue price to those investors
who apply online and the payment is made through digital mode," it
said.
"For such investors the issue price of 'Gold Bond' will be Rs 4,715 per gram of gold."
The SGBs are government securities denominated in grams of gold. Besides, they are substitutes for holding physical gold.A
Under the scheme, investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
The bond is issued by Reserve Bank on behalf of the government.
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