The government on Sunday fixed Rs 3,119 per gram as the issue price for the fourth tranche of Sovereign Gold Bonds (SGB) scheme which opens for subscription on Monday.
The government on Sunday fixed Rs 3,119 per gram as the issue price for the fourth tranche of Sovereign Gold Bonds (SGB) scheme which opens for subscription on Monday.
The government has reduced the minimum subscription denomination to one gm in the fourth tranche, which would be open for investment by individuals and institutional investors from July 18-22.
“To attract small investors, the minimum subscription has been reduced to one gm, although the maximum remains at 500 gm per person/institution,” the finance minister said in a statement. Earlier, the minimum denomination was 5 gm.
“SGB can now be purchased from NSE and BSE, besides all Bank branches, select Post Offices and the Stock Holding Corporation of India Limited (SHCIL),” the ministry said.
This is the first series in 2016-17. SGB gives an interest of 2.75 per cent per annum, payable every six months on initial investment and does this without the attendant risk of theft/loss or impurities associated with physical gold.
The investment in SGB is also eligible for SLR of banks.
