The Modi government will sell you cheap gold again from May 17th. The Reserve Bank of India has also set this gold standard. It does not occur in physical form. The Sovereign Gold Bond Scheme, which can be invested for five days from May 17, has set an issue price of Rs 4,777 per gram for 2021-22, the Reserve Bank of India said on Friday.
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The government has decided to issue bond in six installments from May 2021 to September 2021. The Reserve Bank of India will issue a bond on behalf of the Government of India. The RBI said, “The value of the bond is determined by the 999 purity gold subscription period based on the average closing price of the last three trading days of the previous week … Rs 4,777 per gram.
500 will be given a discount of 10 grams
After consulting with the RBI, the government has decided to offer a discount of Rs 50 per gram to investors applying online. For this, they have to pay through digital means. “The issue of issuance of gold bonds to such investors is Rs. 4,727 per gram of gold.” The RBI has said that. The first installment of the Sovereign Gold Bond Scheme 2021-22 is open for subscription from 20 May 2021 to 21 May 2021 and the bonds will be issued on May 25.
These bonds are sold through banks (excluding small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices and accredited stock exchanges such as the NSE and BSE. Under the scheme, ordinary investors can invest at least one gram of gold and a maximum of four kg of gold. It has an investment period of eight years, with the option to withdraw after the fifth year.
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