Sovereign Gold Bond (SGB) Scheme 2023-24 Series IV,12-16 Feb 2024,Issue Price Rs.6263/-

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प्रेस प्रकाशनी PRESS RELEASE

भारतीय रिज़र्व बैंक

RESERVE BANK OF INDIA

www.rbi.org.in/hindi

Website: www.rbi.org.in

email: helpdoc@rbi.org.in

February 09, 2024

 

In terms of Government of India Notification F.No.4(6)-B(W&M)/2023 and Reserve Bank press release dated December 08, 2023, the Sovereign Gold Bond (SGB) Scheme 2023-24 Series IV will be open for subscription during February 12-16, 2024. The nominal value of the bond based on the simple average of closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three working days of the week preceding the subscription period, i.e. February 07, February 08 and February 09, 2024 works out to ₹6,263/- (Rupees Six thousand two hundred and sixty three only) per gram of gold.

Government of India, in consultation with the Reserve Bank, has decided to offer a discount of 50/- per gram less than the nominal value to those investors applying online and making the payment against the application through digital mode. For such investors, the issue price of Gold Bond will be ₹6,213/- (Rupees Six thousand two hundred and thirteen only) per gram of gold.

Ajit Prasad

Director (Communications)

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Important Points

A minimum investment of one gram and a maximum equivalent of four kilograms of gold can be made.
Investment tenure is 8 years. There is an opportunity to terminate the investment in 5, 6, 7 years.
The investor will get the average price of 999 pure gold for 3 days immediately preceding the closing date.
That is, the investor will get the gold price after 8 years plus 2.5 percent interest.
Also, there is no danger/risk of storing gold.
Gold Bonds can be issued as collateral for loans too.It is also special to be mentioned that, there is no Capital     Gains   Tax on completion of 8 years investment period Present Series (2023-24 Series IV): From 12.02.2024 till  16.02.2024

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