Sovereign Gold Bond: In Delhi, the nation’s capital, the cost of one grammes of gold is currently about Rs 6,330. But you have an opportunity to purchase gold at a discounted price from the government. For the Sovereign Gold Bond tranche that will be introduced on Monday, the government has set the price at Rs 6,263 per gramme.
Availability of Government Gold Bond (SGB)
The Sovereign Gold Bond (SGB) will be available starting on Monday for five days, according to a statement released by the Reserve Bank of India on Friday. The Government Gold Bond Scheme 2023-24 Series Four is scheduled to launch this month from the 12th to the 16th. The central bank stated, “The bond’s value is Rs 6,263 per gramme of gold.” Investors who apply online and pay by digital methods would receive a reduction of Rs 50 per gramme off the issue price, according to a decision made by the Indian government. According to the RBI, these investors would pay Rs 6,213 for the gold bonds that are issued.
How to buy Sovereign Gold Bond online
- Step 1: Log in to your Internet Banking account.
- Step 2: Go to the main menu, select ‘e-Services’ and click on ‘Sovereign Gold Bond’.
- Step 3: If you are a new customer, click on ‘Register’. Read and accept the terms and conditions set by the Reserve Bank of India before proceeding.
- Step 4: Enter all the required details related to the SGB scheme and provide information about the deposit partner from CDSL or NSDL depending on your demat account.
- Step 5: Submit the online registration form.
- Step 6: After registration, either select the purchase option from the header link/section or directly click on ‘Buy’.
- Step 7: Enter the subscription quantity and nominee information.
- Step 8: Enter the OTP sent on your registered mobile number.
Approved Entities for SGBs
Scheduled Commercial Banks (except Small Finance Banks, Payment Banks, and Regional Rural Banks), Designated Post Offices, National Stock Exchange India Limited, BSE Limited, Stock Holding Corporation of India Limited (SHCIL), and Settlement Corporation of India Limited (CCIL) have all approved SGBs. will be fulfilled through sales. The Government of India is represented by the Central Bank, or RBI, in the issuance of gold bonds.
Only residents, trusts, universities, charity organisations, and Hindu Undivided Families (HUF) may purchase these. The annual subscription cap is four kg for persons, four kg for HUF, and twenty kg for trusts and other institutions. The goal of the November 2015 introduction of the Gold Bond Scheme was to lower the physical demand for gold.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
