Gold Bond Series VII-X Opens Soon: Check Subscription Dates, Issue Price
The government's Sovereign Gold Bonds Scheme 2021-22, will be issued in four more tranches in the current fiscal - starting from October 2021 - March 2022, said the finance ministry in a statement today. The first upcoming tranche - Series VII, will open for subscription on Monday, October 25 and will close on October 29 - remaining open for investors for a period of five days.
The Reserve Bank of India (RBI) issues the interest-paying bonds linked to the market price of the yellow metal, as part of the sovereign gold bond scheme. The gold bond sare issued by the RBI on behalf of the government. ( Also Read: What Are Sovereign Gold Bonds? Here's All You Need To Know )
Here are key things to know about the Sovereign Gold Bond (SGB) scheme:
Important Dates
| Tranche | Date of Subscription | Date of Issuance |
|---|---|---|
| 2021-22 Series VII | October 25-29, 2021 | November 2, 2021 |
| 2021-22 Series VIII | November 29-December 3, 2021 | December 7, 2021 |
| 2021-22 Series IX | January 10-14, 2022 | January 18, 2022 |
| 2021-22 Series X | February 28-March 4, 2022 | March 8, 2022 |
| Source: Ministry of Finance | ||
Issue Price
The issue price of each tranche will be fixed in rupees on the basis of a simple average of closing price of gold of 999 purity, by the Mumbai-based India Bullion and Jewellers Association (IBJA) for the last three working days of the week preceding the subscription period. The issue price of the gold bonds will be Rs 50 per gram less for the online subscribers - who pay through the digital mode.
How To Invest
The sovereign gold bonds will be sold through the scheduled commercial banks (except small finance banks and payment banks), stock holding corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), the designated post offices, and recognised stock exchanges - National Stock Exchange of India and the Bombay Stock Exchange Limited. The gold bonds are held in the RBI books or in a demat form.
Eligible Investors
The gold bond scheme is open to resident individuals, Hindu Undivided Families or HUFs, trusts, universities, and charitable institutions.