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Sovereign Gold Bond scheme 2021-22: The Government of India (GoI) has announced the date for opening of Sovereign Gold Bond scheme 2021-22 (Series IX) for subscription. The 5-day subscription of the new series will open on 10th January and it will remain open for bidding till 14th January 2022. The Reserve Bank of India (RBI) will issue the bonds on behalf of GoI.

Issue price

The issue price of the new series of Sovereign Gold Bond scheme 2021-22 has been fixed at 4,786 per gram, the central bank of India said in a statement. So, taking the recent dip in yellow metal in account, the GoI has slashed the issue price of the new series by 5 per gm as issue price of the series 8 was price at 4,791 per gm.

Reward for online bidders

Online bidders applying for the bond will get 50 relaxation as issue price of the new series for such applicants has been fixed at 4,736 per gram. The GoI, in consultation with the RBI, has decided to offer a discount of 50 per gram to those investors applying online and the payment against the application is made through digital mode.

"For such (online or digital) investors, the issue price of gold bond will be 4,736 per gram of gold," the RBI said.

Where to apply

Investors who want to apply for Sovereign Gold Bond scheme 2021-22, series 9 will be sold through banks Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges — NSE and BSE.

The bonds are denominated in multiples of gram(s) of gold with a basic unit of one gram. The tenor of the bond will be for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates.

Investment limit

Minimum permissible investment is one gram of gold. The maximum limit of subscription is 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal (April-March).

KYC eligibility

The know-your-customer (KYC) norms will be the same as that for purchase of physical gold.

Sovereign Gold Bond scheme was launched in November 2015 with an aim to reduce the demand for physical gold and shift a part of the domestic savings — used for the purchase of gold — into financial savings.

(With inputs from PTI)

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