Sovereign Gold Bond 2022-23 Series II scheme ends today: Check issue price, special discount and more
The Sovereign Gold Bond Scheme 2022-23 Series II opened for subscription on August 22 for for five days period. The issue price for Sovereign Gold Bond Scheme 2022-23 Series II has been fixed at Rs 5,197 per gram of gold.
New Delhi: The Sovereign Gold Bond Scheme 2022-23 Series II which opened for subscription from Monday, August 22 will be ending today.
The Sovereign Gold Bond Scheme 2022-23 Series II opened for subscription for for five days period from August 22 to August 26. The issue price for Sovereign Gold Bond Scheme 2022-23 Series II has been fixed at Rs 5,197 per gram of gold.
"The nominal value of the bond...Works out to Rs 5,197," the central bank said in a statement.
The Government of India, in consultation with the RBI, has decided to offer a discount of Rs 50 per gram 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 Rs 5,059 per gram of gold," RBI said.
"For such investors, the issue price of Gold Bond will be Rs 5,147 per gram of gold," the RBI said. The RBI issues the bonds on behalf of the Centre.
The tenure of the bond will be for a period of eight years with an exit option after fifth year to be exercised on the next interest payment dates. The Minimum permissible investment is 1 gram of gold.
The maximum limit of subscription shall be 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal (April-March). Know Your Customer (KYC) norms will be the same as that for the purchase of physical gold. The sovereign gold bond scheme was launched in November 2015, with an objective to reduce the demand for physical gold and shift a part of the domestic savings -- used for the purchase of gold -- into financial savings.
