This Image Show in Price for Sovereign Gold Bonds Scheme
Scheme Overview
The RBI on 30th may 2019 announced calendar for issuance of SGB for first half of current financial year (2019 - 20) .
The Centre in consultation with the Reserve Bank of India decided to allow a discount of ₹ 50 per gram.
This discount is only for the investors who apply online. Also the payment should be made via digital mode.
The issue price of gold bond would be ₹ 3393per gram of gold.
The Sovereign Gold Bonds will be issued every month from June 2019 to September 2019.
Sovereign Gold Bond Scheme
Launched in November 2015 by the Government of India.
The aim was to reduce the demand for physical gold and shifting a part of domestic savings used for purchase of gold into financial savings.
There is an annual ceiling during the initial issuance by centre and those purchased from the secondary market.
The minimum investment in bonds in 1 gram and a maximum limit of subscription of 500gm per person per fiscal year (April-March) .
The maximum subscription is 4kg for individual and Hindu Undivided Family (HUF) including 20kg maximum subscription limit for trusts and similar entities per fiscal (April March) .