The Reserve Bank of India has announced the dates for the second subscription tranche of the Sovereign Gold Bond Scheme 2023-24 SGB. The announcement states that the second season of the SGB scheme would start on 22 August and finish on 26 August. The issue price is not yet known to the general public. sovereign gold bond scheme 2023-24 series 1 The first series of the SGB system for this year was introduced from 20 June to 24 June.
Sovereign Gold Bond Scheme 2023-24 Series 1
Actual gold is replaced by government securities known as Sovereign Gold Bond Scheme 2023-24 which are issued by the RBI. These SGBs are weighed in grams and are provided on a regular basis. The leading financial institution regulates the issuance price for each series. Buying and selling options include a secondary market and throughout the series. To learn more about buying and selling on the GeM Portal.
Scheme for Sovereign Gold Bonds: Fixed Issue Price
The issuance price for the subsequent tranche of the Sovereign Gold Bond Scheme 2021–22 will be Rs 5,197 per gram of gold, the Reserve Bank of India RBI stated on Friday. Beginning on Monday, this tranche will be open for subscription for five days. The Sovereign Gold Bond Scheme 2023 Series II will be open for registration from 22 August through 26 August 2022. According to the RBI, the price of a gold bond would be Rs 5,147 per gram of gold for these investors who sign up online, representing a savings of Rs 50 per gram of gold.
- No risk of storage
- No cost of storage
- Assured return on maturity
- Periodical interest
- No making charges
- No risk of impurity
- Bonds are held in RBI books in demat form; no risk
Overview Sovereign Gold Bond Scheme 2023
| Name of Scheme | Sovereign Gold Bond Scheme 2023-24 |
| Launched By | Reserve Bank of India |
| Beneficiaries | Citizens of India |
| Objective | To decrease the purchase of gold |
| Application Mode | _____ |
| Website | Click Here |
SGB Scheme 2023-24 Series 1
| Name of the issue | Sovereign Gold Bond Scheme 2023-24 |
| Date of subscription | June 19 – June 23, 2023 |
| Date of issue | June 27, 2023 |
| Price | ₹ 5,926/- For investing online, ₹ 5,876/- |
| Tranche | 2023-24 Series I |
Objective for Sovereign Gold Bond Scheme 2023-24 Series iv
sovereign gold bond scheme 2023-24 next date In order to decrease the demand for real gold and divert some domestic savings that were previously used to buy gold, the government introduced the sovereign gold bond scheme in November 2015. In restricted quantities, the government makes SGBs available in tranches.
Sovereign Gold Bond Scheme 2023-24
Today, in this article we are going to discuss the scheme called the Sovereign Gold Bond Scheme for the year 2023-24, for those eligible investors who are looking for reliable revenue to invest in gold. Recently the Ministry of Finance said in an interview, that the first tranche under the gold bond scheme has been fixed by the central government as 5,926 per gram of gold. So, if you are an investor and willing to know more about this scheme, kindly read this article till the end and get information that includes eligibility, features, and other details also.
Recently a scheme was launched for investors who want to invest in gold, this scheme was basically launched by the government of India to provide an opportunity for individuals to own gold in a non-physical form, and with this, they can avail various benefits. Recently the central government has announced the fixed price of gold as 5,926 per gram, which will be open for five days from 19th June 2023, which was stated by the finance ministry this Friday.
The Ministry has mentioned that series I of this initiative will open for subscription during the period of time from 19th June to 27th June with a settlement, and the per gram gold prize will be 5,926 at that period of time, as mentioned by RBI in a press. This initiative offers a unique investment opportunity for eligible investors who are seeking portfolios and capitalize on the potential of gold and asset classes.
Subscription Dates
Series I
- Subscription Period: June 19 to June 23, 2023
- Issuance Date: June 27, 2023
Series II
- Subscription Period: September 11 to September 15, 2023
- Issuance Date: September 20, 2023
Who all can buy SGBs?
As per RBI regulations, any resident of India can invest in SGBs under the Foreign Exchange Management Act, 1999. If an individual investor changes his residential status from resident to non-resident after purchasing the bonds, he can still retain the book till early redemption/maturity.
If I apply, am I assured of allotment?
sovereign gold bond scheme 2023-24 series 5 If all the eligibility criteria are successfully met by the customer then he/she presents a valid identity document. And submits the application amount on time, he/she will get the allotment.
| Tranche | Date of Subscription | Date of Issuance | Issue price |
| 2023-24 Series I | June 19 – June 23, 2023 | June 27, 2023 | Rs 5,926 per gram |
| 2023-24 Series II | September 11-September 15, 2023 | September 20, 2023 | TBD |
Why are SGB called Bonds?
SGB is just like any other bond in that the bearer of the instrument is entitled to the payment of interest. The bonds pay interest at the rate of 2.50 per cent per annum on the amount of the initial investment. This interest will be deposited half-yearly in the bank account of the investor.
Benefits for Sovereign Gold Bond Scheme 2023
- After discussions with the Reserve Bank of India, the Indian government has agreed to grant investors who submit online applications and pay for them through digital channels a discount of 50 per gram compared to the nominal price
- The SGB is a better option than keeping gold in physical form.
- Storage-related dangers and expenses are removed. The market value of gold at the time of maturity and monthly interest are guaranteed to investors.
- When it comes to concerns like purity and manufacturing fees, SGB is free in the case of gold jewellery.
Eligibility Criteria
- Indian resident,This scheme is only open to Indian residents who meet the criteria set out in the Foreign Exchange Management Act of 1999.
- Individuals/groups – Anybody may invest in this scheme, including individuals, associations, trusts, HUFs and others, as long as they are Indian residents. Bond investments can be made jointly under the plan with other qualified participants.
- Parents or legal representatives may purchase this bond on behalf of children.
Required Documents
- The applicant Aadhar card
- Pan Card
- Tan Card
- Residence certificate
- Bank details
Applying Procedure Sovereign Gold Bond Scheme 2023
- First you have to visit your nearest bank branch
- You must take up an application there
- Whenever you receive an application, you must properly fill it out
- Including the necessary self-attested documents
- Submit your application to the branch manager, who will take a copy
How to Apply Sovereign Gold Bond Scheme 2023-24
- Go to the official website of the portal.
- On the home page will appear in front of you.
- There you have to get the Application Form,
- After getting application you have to fill it correctly,
- Attach all required self attested documents
Requirement of kyc in Sovereign Gold Bond Scheme 2023-24
- The Know Your Customer (KYC) norms will be maintained the same as for purchase of physical gold. KYC documents like Voter ID, Aadhaar Card/PAN or TAN/Passport will be required.
- Interest on Gold Bonds will qualify under the provisions of the Income Tax Act, 1961 (43 of 1961).
- An individual will be exempted from capital gains tax arising on redemption of SGBs.
How can you make the payments?
- If investors make the investment online, they can pay through UPI.
- For physical purchases of SGBs, the payment can be made through cash payment (up to a maximum of Rs 20,000) or demand draft or cheque.
| Tranche | Subscription Period | Price offered |
| 2022-23 Series I | June 20-24, 2022 | Rs 5,041 per gram |
| 2022-23 Series II | August 22-26, 2022 | Rs 5,091 per gram |
| 2022-23 Series III | December 19-27, 2022 | Rs 5,409 per gram |
| 2022-23 Series IV | March 6-10 2023 | Rs 5,611 per gram |
How can you make the payments?
| Tranche | Subscription Period | Price offered |
|---|---|---|
| 2022-23 Series I | June 20-24, 2022 | Rs 5,041 per gram |
| 2022-23 Series II | August 22-26, 2022 | Rs 5,091 per gram |
| 2022-23 Series III | December 19-27, 2022 | Rs 5,409 per gram |
| 2022-23 Series IV | March 6-10 2023 | Rs 5,611 per gram |