Sovereign Good Bond 2023-24 Series 3
The Sovereign Gold Bonds 2023-24 Series III subscription will be available for purchase for five trading days, beginning on December 18 and concluding on December 22. The date of the bonds' issuance is December 28, 2023. The Reserve Bank of India will soon declare the cost of this issue.
As stated by Reserve bank of India in a press release dated December 15, 2023, the issuance price of the Bond during the subscription period will be ₹6,199 (Rupees Six Thousand One Hundred Ninety Nine only) per gram me.
After conferring with the Reserve Bank of India, the Indian government has agreed to grant investors who apply online and make their payment digitally a discount of ₹50 (Rupees Fifty only) per gram me off the issue price. For these investors, the Gold Bond's issue price is just ₹6,149 (Rupees Six Thousand One Hundred Forty Nine) for per gram me of gold.
Sovereign Gold Bonds: What Are They?
Government securities with a gold weight expressed in grams are called Sovereign Gold Bonds . They act as stand ins for actual gold ownership. Investors will receive a cash redemption at maturity and are required to pay the issue price in cash. On behalf of the Indian government, the bonds are issued by the Reserve Bank of India.
Investors are safeguarded since, upon redemption, they will be paid the market price for the gold, guaranteeing the value of the quantity of gold they originally purchased.
What's being offered?
The India Bullion and Jewellers Association publishes the closing price of 999 purity gold for the final three working days of the week prior to the subscription period, which serves as the basis for fixing the price of the Sovereign Good Bond.
Middle class family safe investment and government scheme.
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