Gold Investment: Sovereign gold bonds price fixed at Rs 5,000 per gm, subscription from December 28
Gold Investment: Sovereign gold bonds price fixed at Rs 5,000 per gm, subscription from December 28
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Sovereign Gold Bond 2020-21
Sovereign Gold Bond 2020-21 is given by the Reserve Bank India for the Government of India. The bonds are designated in products of a gram(s) of gold with an essential unit of 1 gram and its tenor is eight years with leave choice after the fifth year to be practiced on interest installment dates.
The bonds are confined available to be purchased to inhabitant people, Hindu Undivided Families (HUFs), trusts, colleges, and beneficent organizations.
The base passable venture will be 1 gram of gold and the most extreme constraint of membership will be 4 kg for people and HUFs, and 20 kg for trusts and comparable elements per monetary (April-March).
Where to buy
The gold bonds will be sold through banks (aside from Small Finance Banks and Payment Banks), Stock Holding Corporation of India (SHCIL), assigned mailing stations, and perceived stock trades (NSE and BSE).
The sovereign gold security conspire was dispatched in November 2015 with a target to decrease the interest for actual gold and move a piece of homegrown reserve funds - utilized for the acquisition of gold - into monetary reserve funds.
According to RBI's Annual Report 2019-20, a sum of Rs 9,652.78 crore (30.98 tons) has been raised through the sovereign gold bond conspire (37 tranches) since its initiation in November 2015. The RBI gave 10 tranches of sovereign gold bonds for a total measure of Rs 2,316.37 crore (6.13 tons) during 2019-20.
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