RBI Opens Sovereign Gold Bond Scheme, Invest Now
Sovereign Gold Bonds are government protections offered by the RBI that go about as a substitute for actual gold. These SGBs are named in grams and are issued a few times a year.
On Tuesday, the Reserve Bank of India (RBI) announced the opening of the Sovereign Gold Bond (SGB) scheme for the public. As per the notification by the central bank, the issue price for the sovereign gold bonds is fixed at Rs. 5.197 per gram. This is the second tranche of the RBI Sovereign Gold Bond scheme which will remain open to the public till August 26, Friday.
Value of the Sovereign Gold Bond
In a press release on Friday, the apex bank stated, "The nominal value of the bond based on the simple average closing price as per the Indian Bullion and Jewellers Associatio0n Ltd (IBJA) for gold of 999 purity of the last three working days of the week preceding the subscription period works out to Rs. 5,197 per gram of gold."
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Sovereign Gold Bond Scheme for investors
Sovereign Gold Bonds are government protections offered by the RBI that go about as a substitute for actual gold. These SGBs are named in grams and are issued a few times a year. Each series has an issue value that is managed by the Reserve Bank of India.
Opportunity to invest in Sovereign Gold Bonds (SGB) is here! Diversify your portfolio by investing in SGB.#SovereignGoldBond #NSE #SGB #StockMarket #ShareMarket #Investment #InvestNow pic.twitter.com/1C8bWc8aGu
— NSE India (@NSEIndia) August 22, 2022
Investors can avail of a discount of Rs. 50 per gram
As per the RBI, a discount of Rs. 50 can be availed by the buyer if he/she opts to make the payment online by choosing a digital payment mode. The bank stated, "Govt. of India, in consultation with the RBI has decided to offer a discount of Rs. 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode."
Become an investor now
Financial backers who are qualified to take part in the SGB tranche are trusts, colleges, charitable trusts, and Hindu Undivided Families (HUFs). Additionally, an investor should be a citizen of India, as characterized under the Foreign Exchange Management Act of 1999, is qualified to invest in the scheme.
