Sovereign Gold Bonds 2023-24 Series IV opens today: Can you invest? What are the steps?

SGB Scheme 2023-24 Series IV is open for subscription till February 16.

Published on: Feb 12, 2024, 08:09:37 IST

By HT News Desk, New Delhi

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The public subscription of Sovereign Gold Bonds (SGB) 2023-24 Series-IV opens from today, i.e., February 12, and will be available till February 16. The issuance, on the other hand, is scheduled for February 21.

Also Read | Sovereign Gold Bonds 2023-24 Series IV opens tomorrow: Know the latest tranche issue price

In a statement, the Union finance ministry, on whose behalf the central Reserve Bank of India (RBI) issues the bonds, said, “The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks, and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.”

The first three tranches under SGB scheme 2023-24 opened last year, between June 19-23, September 11-15, and December 18-22, respectively.

Who are eligible to invest?

The list of eligible investors include:

Individual residents: Both Indian citizens and persons of Indian origin (PIO) residing in the country.

Hindu Undivided Families (HUFs): Recognised as traditional family units under Hindu law.

Trusts: Encompassing public and private trusts duly registered in India.

Universities: Covering all universities acknowledged by the University Grants Commission (UGC).

Charitable institutions: Those registered under the Income Tax Act, 1961, and holding valid 80G registration.

Who cannot invest?

Non-resident Indians (NRIs) and foreign institutional investors (FIIs) cannot invest, while minors can do so only through their guardians.

How to invest?

Step 1: Login to your internet banking account and navigate to the main menu; choose ‘e-Service’ and click on ‘Sovereign Gold Bond.’

Step 2: If you are a new customer, click on ‘Register.’ Before proceeding, read the terms and conditions set by RBI.

Step 3: Enter all details related to the scheme and provide information about the depository participant from CDSL or NSDL, depending on the hosting of your demat account.

Step 4: Complete the submission of the online registration form.

Step 5: Then, choose the purchasing option from the header link/section or directly click on ‘Purchase.’

Step 6: Input the desired subscription quantity and nominee details.

Step 7: Complete the process by entering the one-time password (OTP) sent to your registered mobile number.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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