Schemes of earnings on the Internet 2020 kg. Warning over pyramid scheme aimed at social media generation
The gold bond has been priced at Rs 5, per gram. However, the issue price has been fixed at Rs 5, per gram of gold for those investors who will apply online or make payment via digital mode.
The RBI in consultation with the Centre has decided to offer a discount to such investors.
The issue price for the bonds series V was Rs 5, per gram of gold. The Series V was open for subscription from August 3 to August 7.
Latest rates here 1 min read. Sovereign gold bonds have a tenure of eight years, with exit options are available from the fifth year. The minimum permissible investment unit is 1 gram of gold and the maximum limit of subscription is 4 kg for individuals, 4 kg for the Hindu Undivided Family, and 20 kg for trusts and similar entities per fiscal. Sovereign gold bonds are issued by the RBI on behalf of the government. Apart from the rise in gold prices, the investor gets a fixed rate of interest on the investment amount throughout the tenure of the fund.
The minimum permissible investment will be 1 gram of gold and 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 April-March.
The tenor of the SGB will be eight years with an exit option after the fifth year to be exercised on the interest payment dates.
However, if an investor exits before the lock-in period of 5 years, they can always get out of the bonds by selling it on stock exchanges. Why are Sovereign Gold Bonds issued?
The outfits, called "cooperatives", appeared to be implicitly backed by the government and became wildly popular in the population at large, who felt safe since the co-ops were openly advertising in radio and TV ads using Haitian pop stars as spokespeople.
The sovereign gold bond scheme was launched in November with an objective to reduce the demand for physical gold and shift a part of the domestic savings, used for the purchase of gold, into financial savings. What are gold prices at present? On August 7, gold prices hit a record high of Rs 56,