“The par value of the bond…works intent on Rs 4,791 per gram of gold,” the run batted in the same. The difficulty worth for Sovereign Gold Bond theme 2021-22, which can open for subscription for 5 days from November twenty-nine, has been mounted at Rs 4,791 per gram of gold, the banking concern of Bharat said on Friday.
The Sovereign Gold Bond theme 2021-22 – Series VIII is going to be open for subscription from November 29 – Dec 03, 2021. “The nominal value of the bond…works out to Rs 4,791 per gram of gold,” the run batted in said.
The govt of India, in consultation with the run batted in, has conjointly determined to supply a reduction of Rs fifty per gram on the par value to those investors applying online, and therefore the payment against the applying is formed through digital mode.
“For such investors, the difficulty worth of Gold Bond is going to be Rs 4,741 per gram of gold,” it added. The difficulty price of Series VII was Rs 4,761 per gram of gold. The RBI can issue the bonds on behalf of the govt of India.
The bonds will be oversubscribed through banks (except tiny Finance Banks and Payment Banks), Stock Holding Corporation of Bharat restricted (SHCIL), selected post offices and recognized stock exchanges viz., National stock market of India restricted and Mumbai stock market Limited.
The theme was launched in November 2015 to cut back the demand for physical gold and shift a district of the domestic savings — used for the acquisition of gold — into monetary savings.
The value of the bond is mounted in Indian Rupees supported the easy average price of gold of 999 purity, revealed by the India Bullion and Jewelers Association restricted for the last three operating days of the week preceding the subscription period.
The bonds are going to be denominated in multiples of gram (s) of gold with a basic unit of one gram. The tenor of the bond will be for eight years with associate exit choice when the fifth year is to be exercised on subsequent interest payment dates.
The minimum permissible investment is 01 gram of gold. The most limit of subscription is four weight units for individuals, 4 weight units for HUF, and twenty kg for trusts and similar entities per business (April-March). The Know-your-customer (KYC) norms are going to be identified as that for the acquisition of physical gold.