Sovereign Gold Bonds 2018-19 (Series VI) will be opened for the period from February 4 to 8, 2019. The bond’s issue price during this subscription period would be Rs 3,326 per gram with settlement date February 12, this year, the government said.
The government in consultation with the Reserve Bank of India (RBI) has decided to allow discount of Rs 50 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 bond will be Rs 3,276 per gram of gold.
“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.3,276 (Rupees Three Thousand Two Hundred Seventy Six only) per gram of gold,”
The sovereign gold bond scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings into financial assets.
Under the scheme, the bonds are denominated in units of one gram of gold and multiples thereof. Minimum investment in the bonds is one gram with a maximum limit of 500 grams per person per fiscal year.
The maximum limit of subscription is 4 kg for individual and HUF and 20 kg for trusts and similar entities per fiscal (April-March).