New Delhi, Nov 26th : .The issue price of Sovereign Gold Bonds’ next series was set at Rs 4,791 per Gram of Gold. According to the Ministry of Finance the Sovereign Gold Bond Scheme 2021-22 Series VIII will be open for subscription from November 29 through December 3, with settlement date December 7.
It stated that the Government of India, in consultation with the Reserve Bank of India, decided to give a discount of Rs 50 per kilogram from the issue price to investors who apply online and make the payment through digital mode.
“For such investors, the issue price for Gold Bond will be Rs 4,741 a gram of gold.”
SGBs are government securities that are denominated as grams of gold.They can also be used as a substitute for physical gold.The scheme requires that investors pay the issue price in cash, and the bonds are redeemed in cash upon maturity.
The Reserve Bank issues the bond on behalf of the government.
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