Sovereign Gold Bond Scheme 2022-23 Series II - Issue Price. ₹5,197/- or ₹5,147/-

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 Sovereign Gold Bond Scheme 2022-23 Series II - Issue Price. ₹5,197/- or ₹5,147/-

           

So, what is your choice. ₹5,197/- or ₹5,147/- The final decision is yours only.



In terms of GoI notification F.No.4(6)-B(W&M)/2022 and RBI press release dated June 16, 2022, the Sovereign Gold Bond Scheme 2022-23 - Series II will be open for subscription for the period from August 22 – August 26, 2022.

The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three working days of the week preceding the subscription period, i.e. August 17, August 18, and August 19, 2022 works out to ₹5,197/- (Rupees Five thousand one hundred and ninety seven only) per gram of gold.

 

Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50/- per gram less than the nominal value 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 ₹5,147/- (Rupees Five thousand one hundred and forty-seven only) per gram of gold.

 

Issue Opening Date: August 22,2022

Issue Closing Date: August 26, 2022

Number of Days issue is open: 5

As there is no Issue Limit, investors to maximise returns, should apply on the last working day Less 1 i.e August 26, 2022

The interest will start from the issuance date i.e, irrespective of the application date.

Hence, the investors can earn SB interest from 1 to 1 instead of blocking funds in SGB

There are number of channels through which Investors can apply for the SGBs.

All Banks Apps, Stock Trading Apps have this subscription feature.

Hence, nothing to worry.

IBJA closing Gold Rates per gram –

Purity – 99.99%

August 17, 2022 - ₹5,203/-

August 18, 2022 - ₹5,208/-

August 19, 2022 - ₹5,180/-

3 Days Average - ₹5,203/- + ₹5,208/- + ₹5,180/- = ₹15,593/3 = ₹5,197/-

 

Sovereign Gold Bond Scheme was launched by Govt in November 2015, under Gold Monetisation Scheme.

Under the scheme, the issues are made open for subscription in tranches by RBI in consultation with GOI.

RBI Notifies the terms and conditions for the scheme from time to time.

 

The rate of SGB will be declare by RBI before every new tranche by issuing a Press Release.

Interesting to Read:

National Stock Exchange Action @

https://www1.nseindia.com/live_market/dynaContent/live_watch/equities_stock_watch.htm?cat=SGB

Reserve Bank of India SOVEREIGN GOLD BONDS Micro Site @

https://rbi.org.in/Scripts/BS_SwarnaBharat.aspx

Sovereign Gold Bond Scheme FAQs @ https://www.rbi.org.in/Scripts/FAQView.aspx?Id=109

 

 

 

 

 

 

 

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