E-Paper
Fifth tranche of sovereign gold bond scheme opens for subscription
The government, in consultation with the Reserve Bank of India, is also providing a discount of ₹50 per gram to those applying online for sovereign gold bond. To avail this discount, the payment against the application must be made through digital mode.
The fifth tranche of sovereign gold bond scheme opened for subscription on Monday. The government has fixed the issue price at ₹4,807 per gram of gold. The scheme will remain open till August 13 to give a chance to people to buy gold at a lower price.
The government, in consultation with the Reserve Bank of India (RBI), is also providing a discount of ₹50 per gram to those applying online. To avail this discount, the payment against the application must be made through digital mode.
"For such investors, the issue price of Gold Bond will be ₹4,740 per gram of gold," the RBI said in a statement.
The government had earlier announced that it will issue the sovereign gold bond in six tranches from May 2021 to September 2021.
In the fourth round, which opened for subscription from July 12 to July 16, the price was kept at ₹4,807 per gram.
The RBI issues these bonds on behalf of the government of India. They are sold through banks (except small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges.
The tenor of the bond is for a period of 8 years with exit options after the 5th year to be exercised on the next interest payment dates.
The government was able to raise ₹25,702 crore through the gold bond scheme till March 31, 2021.
The R had issued 12 tranches of sovereign gold bond for an aggregate amount of ₹16,049 crore during 2020-21.
