Second tranche of sovereign gold bonds scheme for FY22 opens today

The Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.

May 24, 2021 09:05 IST India Infoline News Service

The second tranche of sovereign gold bonds scheme 2021-22 (Series II) will be open from today and the subscription will be available till May 28, 2021.

The statement released on May 21 by the Ministry of Finance said that “in terms of the Government of India Notification No.4(5)-B(W&M)/2021 dated May 12, 2021, Sovereign Gold Bonds 2021-22 (Series II) will be opened for the period May 24-28, 2021 with Settlement date June 01, 2021.”

The RBI will issue the bonds on behalf of the Government of India. The date of issuance for the second tranche is set as June 1, 2021.

The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. May 19, May 20 and May 21, 2021, works out to Rs4,842 per gram of gold, the RBI said on May 21.

The Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.

For such investors, the issue price of Gold Bond will be Rs4,792 per gram of gold, RBI stated.

Click the below link here: https://www.indiainfoline.com/bonds/sgb-series-II/

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