The finance ministry has announced that the subscription for third series of the sovereign gold bond scheme 2022-23 will open on December 19. The applications will close on December 23 and the settlmnt date is December 27.
“The issue price of the Bond during the subscription period shall be ₹5,409 per gram, as also published by RBI in their Press Release dated December 16, 2022,” it added.
The Centre in consultation with the Reserve Bank of India has decided to allow discount of ₹50 per gram from the issue price to those investors who apply online and the payment is made through digital mode.
“The issue price of the Gold Bonds will be less than the nominal value by ₹50 per gram to those investors applying online and making the payment against the application through digital mode,” the ministry said.
For such investors the issue price of Gold Bond will be ₹5,359 per gram of gold.
The SGBs will be issued by Reserve Bank of India on behalf of the Indian government and will be restricted for sale to resident individuals, HUFs, trusts, universities and charitable institutions. They will be denominated in multiples of gram(s) of gold with a basic unit of one gram.
The minimum permissible investment will be one gram of gold, while the maximum limit of subscription shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal year. In case of joint holding, the investment limit of 4 KG will be applied to the first applicant only.
