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GOI announced Sovereign Gold Bond Scheme 2020-21, Series I, II, III, IV, V, VI

The Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period from June 08, 2020 to June 12, 2020. 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. June 03 – June 05, 2020 works out to ₹4,677/- (Rupees Four Thousand Six Hundred and Seventy Seven only) per gram of gold.

Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50/- 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 ₹4,627/- (Rupees Four Thousand Six Hundred and Twenty Seven only) per gram of gold.

RBI/2019-20/212
IDMD.CDD. No.2729/14.04.050/2019-20

April 13, 2020

The Chairman& Managing Director
All Scheduled Commercial Banks,
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India Ltd. (SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.

Dear Sir/Madam,

Sovereign Gold Bond Scheme (SGB) 2020-21– Series I, II, III, IV, V, VI

Government of India has vide its Notification No F.No4.(4)-B (W&M)/2020 dated April 13, 2020 announced the Sovereign Sovereign Gold Bond Scheme (SGB) 2020-21Under the scheme there will be a distinct series (starting from Series I) for every tranche. The terms and conditions of the issuance of the Bonds shall be as per the above GOI Notification.

2. Date of Issue

The date of issuances shall be as per the details given in the calendar below

S. No. Tranche Date of Subscription Date of Issuance
1 SGB 2020-21 Series I April 20-24, 2020 April 28, 2020
2 SGB 2020-21 Series II May 11-15, 2020 May 19, 2020
3 SGB 2020-21 Series III June 8-12, 2020 June 16, 2020
4 SGB 2020-21 Series IV July 6-10, 2020 July 14, 2020
5. SGB 2020-21 Series V August 3-7, 2020 Aug 11, 2020
6. SGB 2020-21 Series VI August 31- September 4, 2020 Sep 08, 2020

3. Period of subscription.

The Subscription of the Gold Bonds under this Scheme shall be open (Monday to Friday) on the dates specified above, provided that the Central Government may, with prior notice, close the Scheme at any time before the period specified above

4. Application

Subscription for the Bonds may be made in the prescribed application form (Form A) or in any other form as near as thereto, stating clearly the grams (in units) of gold and the full name and address of the applicant. Every application must be accompanied by the ‘PAN details’ issued by the Income Tax Department to the investor(s). Scheduled Commercial Banks (excluding RRBs, Small Finance Banks and Payment Banks), designated Post Offices (as may be notified), Stock Holding Corporation of India Ltd (SHCIL) and recognized stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Ltd. are authorized to receive applications for the Bonds either directly or through agents and render all services to the customers The Receiving Office shall issue an acknowledgment receipt in Form B’ to the applicant.

5. In addition to receipt of application, the Receiving Offices are also entrusted with the responsibility of providing service to the investors of the SGB and are required to be guided by rules and regulations issued by RBI from time to time, in this regard. With a view to facilitate availability of all the current operative instructions regarding servicing of these bonds at one place, RBI has issued consolidated procedural/operational vide the circular IDMD.CDD.2730/14.04.050/2019-20, dated April 13, 2020 and the same is available on RBI website. All the Receiving Offices shall be guided by these instructions while dealing with all procedural aspects while providing service to the investors.

6. All other terms and conditions specified in the notification of Government of India in the Ministry of Finance (Department of Economic Affairs) vide Notification F.No.4(2)-W&M/2018 dated March 27, 2018  shall apply to the Bonds.

Yours faithfully,

(Raksha Mishra)
General Manager


 

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