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Centre To Start Sovereign Gold Bond Scheme From June 20

Centre To Start Sovereign Gold Bond Scheme From June 20

Centre to soon start the Sovereign Gold Bond Scheme 2022-23 for 5 days, from June 20 to June 25. For this the issue price has been fixed at Rs 5,091 per gram. This information was given by the Reserve Bank of India (RBI).

The first series of Government Gold Bond (SGB) scheme 2022-23 will open for purchase between June 20 and 24, 2022. “The issue price of the gold bond has been fixed at Rs 5,091 per gram,” the central bank said in a statement.

RBI said, “The issue price will be lower by Rs 50 per gram for investors applying for and paying for gold bonds online or digitally.” The issue price of the gold bond for such investors is Rs 5,041 per gram. The second series of Gold Bond Scheme 2022-23 will be available for application from 22 to 26 August.

The central bank actually issues bonds on behalf of the Government of India. These can only be sold to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions. In the last financial year 2021-22, SGBs were issued in 10 installments worth a total of Rs 12,991 crore.

The maximum limit of subscription is four kilograms for individuals, four kilograms for HUF and 20 kilograms for trusts and similar organisations. The Gold Bond scheme was first introduced in November 2015 with an intention to reduce the physical demand for gold.

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