sovereign gold bond scheme

RBI has announced another round of sovereign gold bond scheme starting from 17th May, 2021 onwards upto 21st May, 2021 and will be issued on 25th May, 2021.

The issue price of the Bond during this subscription period shall be Rs 4,777 (Rupees Four thousand seven hundred Seventy seven only) – per gram, as also published by RBI in their Press Release dated May 14, 2021.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,727 (Rupees Four thousand Seven hundred twenty seven only) per gram of gold.

Government of India has vide its Notification No F.No4.(4)-B (W&M)/2021 dated May 12, 2021 has announced the Sovereign Gold Bond Scheme 2020-21, Series I, II, III, IV, V and VI. Under the scheme there will be a distinct series (starting from Series I) for every tranche. The terms and conditions of the issuance of the Bonds shall be as per the above notification.

2. Date of Issue

The date of issuances shall be as per the details given in the calendar below

S. No.TrancheDate of SubscriptionDate of Issuance
1.2021-22 Series IMay 17–21, 2021May 25, 2021
2.2021-22 Series IIMay 24–28, 2021June 01, 2021
3.2021-22 Series IIIMay 31-June 04, 2021June 08, 2021
4.2021-22 Series IVJuly 12- 16, 2021July 20, 2021
5.2021-22 Series VAugust 09-13, 2021August 17, 2021
6.2021-22 Series VIAugust 30- September 03, 2021September 07, 2021

3. Period of subscription.

The Subscription of the Gold Bonds under this Scheme shall be open (Monday to Friday) on the dates specified above, provided that the Central Government may, with prior notice, close the Scheme at any time before the period specified above.

4. Application

Subscription for the Bonds may be made in the prescribed application form Form A or in any other form as near as thereto, stating clearly the grams (in units) of gold and the full name and address of the applicant. Every application must be accompanied by the ‘PAN details’ issued by the Income Tax Department to the investor(s). Scheduled Commercial Banks (excluding RRBs, Small Finance Banks and Payment Banks)designated Post Offices (as may be notified), Stock Holding Corporation of India Ltd (SHCIL) and recognized stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Ltd. are authorized to receive applications for the Bonds either directly or through agents and render all services to the customers The Receiving Office shall issue an acknowledgment receipt in Form B’ to the applicant.

5. In addition to receipt of application, the Receiving Offices are also entrusted with the responsibility of providing service to the investors of the SGB and are required to be guided by rules and regulations issued by RBI in this regard from time to time. With a view to facilitate availability of all current operative instructions regarding servicing of these bonds at one place, RBI has issued consolidated procedural/operational guidelines vide circular IDMD.CDD.2730/14.04.050/2019-20, dated April 13, 2020. and the same is available on RBI website. The Receiving Offices shall be guided by these instructions while dealing with all the procedural aspects and providing service to the investors.

6. All other terms and conditions specified in the notification of Government of India in the Ministry of Finance (Department of Economic Affairs) vide Notification F.No.4(2)-W&M/2018 dated March 27, 2018 shall apply to the Bonds.

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