Categories: Business

Gold bond issue price fixed at Rs 4852 per gram


Gold bond issue price fixed at Rs 4852 per gram

new Delhi. The issue price for government gold bonds has been fixed at Rs 4,852 per gram. The Reserve Bank gave this information in a statement released on Friday. The Government Gold Bond Scheme 2020-21 Series-4 will open for subscription on July 6 and will close on July 10. The central bank announced in April that the government would issue government gold bonds in six installments from April 2020 to September. The Reserve Bank will issue these bonds on behalf of the Government of India.

The RBI said, "The bond's face value is based on the simple average closing price (published by the India Bullion and Jewelers Association) over the last three working days for 999 purity gold." It has been fixed at Rs 4,852 per gram of gold. "According to the statement, the government, in consultation with the RBI, decided to give a rebate of Rs 50 per gram to investors who apply online and make payments through digital mode.

According to the central bank, "the issue price for such investors would be Rs 4,802 per gram." Earlier, the issue price of bonds opened for subscription between June 8 and 12 was Rs 4,677 per gram. The bond will be available in one gram and its multiplier. The duration of the gold bond is eight years. There is an option to exit on the date of interest payment after the fifth year. This bond is for the citizens of the country, Hindu undivided families, trusts, universities and charitable institutions. The minimum allowable investment is one gram of gold and a maximum of 4 kg per person. For Hindu undivided family, the maximum limit of investor is 4 kg. It is 20 kg for trusts and similar units. The sale of gold bonds will be done through banks, stock holding corporations of India, nominated post offices and recognized stock exchanges (NSE and BSE).

This post was published on July 4, 2020 1:22 am

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