#1
7th November 2017, 01:30 PM
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Gold Investment In India State Bank Of India
Hii sir, I Wants to get the Information About the Sovereign Gold Bond Scheme of the State bank of India ?
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#2
7th November 2017, 02:53 PM
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Re: Gold Investment In India State Bank Of India
As you Asking for the Information About the Sovereign Gold Bond Scheme of the State bank of India is given below Issuance To be issued by Reserve Bank of India on behalf of the Government of India. Eligibility The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable institutions. Denomination The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. Tenor The tenor of the Bond will be for a period of 8 years with an exit option from 5th year onwards to be exercised on the interest payment dates. Minimum size Minimum permissible investment will be 1 gram of gold. Maximum limit The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained. Issue price Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period. (Price of Gold will be published on RBI website two days prior to the opening of tranche) For more Detials you may Contact to the Nearest branch of the State Bank of India |