RBI s Sovereign Gold bond opens for subscription today
The RBI issued 10 tranches of sovereign gold bonds for an aggregate amount of Rs 2,316.37 crore (6.13 tonnes) during 2019-20. December 30, 2020 / 12:11 PM IST
The Sovereign Gold Bond Scheme 2020-21 – Series IX will be open for subscription today, December 28 till January 1, 2021. The issue price for the latest tranche of gold bonds has been fixed at Rs 5,000, though a discount of Rs 50 per gram on the nominal value will be offered to investors applying online and making the payment against the application through digital mode, the Reserve Bank of India had said.
The value of the bond is based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd) for gold of 999 purity of the last three business days of the week preceding the subscription period, that is, December 22-24.
India s GIFT IFSC Poised to Be a Global Financial Services Hub
Monday, December 28, 2020 10:00AM IST (4:30AM GMT)
Mumbai, Maharashtra, Ahmedabad, Gujarat, India: India’s first International Financial Services Centre (IFSC) at the Gujarat International Finance Tech City (GIFT City) made its global mark, being named among the ‘top emerging business hubs in the world’. The latest Global Financial Centers Index, London in September 2020 mentions the IFSC at GIFT City among 15 centers which globally, are likely to gain greater significance over the next 24 months.
There are three different structures of IFSCs: Full-service finance centre (Tokyo and New York), which largely support a large domestic economy; Offshore financial centers (Mauritius) which may not have a robust domestic economy but have international access and acceptance. The third, which India has adopted, is the hybrid structure (Singapore), wh
RBI’s Sovereign Gold Bonds scheme opens today price, how to apply, and more
Rounak JainDec 28, 2020, 11:14 IST
Pixabay
The RBI has opened the latest tranche of Sovereign Gold Bonds for subscription.
The issue price has been fixed at ₹5,000 per gram of gold and a discount of ₹50 can be availed by applying online.
The last day for subscription is January 1, 2021.
The Reserve Bank of India (RBI) has opened the latest tranche of Sovereign Gold Bonds for subscription from today. The RBI has fixed the issue price under this scheme at ₹5,000 per gram of gold. Additionally, investors who apply online and make payment using a digital mode will be eligible for a ₹50 discount and can apply at ₹4,950 per gram.
Subscription for RBI s Sovereign Gold bond opens today
Gold
For those looking to invest in gold, the RBI s Sovereign Gold Bond (SGB) Scheme 2020-21 â Series IX will open for subscription on Monday, December 28. The scheme will remain open till January 1, 2021.
Sovereign Gold Bonds (SGBs) are government-backed securities issued by the Reserve Bank of India (RBI). The bonds are denominated in grams of gold with 999 purity.
SGBs are considered a safe method to park money.
The issue price for the latest tranche of gold bonds has been fixed at Rs 5,000. The Union government in consultation with the RBI, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of SGB will be Rs 4,950 per gram of gold, according to RBI.
The issue price for the next series of sovereign gold bonds has been fixed at Rs 5,000 per gram of gold, the Reserve Bank of India said in a statement on Thursday.
The Sovereign Gold Bond Scheme 2020-21 - Series IX will be open for subscription from December 28, 2020 to January 1, 2021. The nominal value of the bond.works out to Rs 5,000 per gram of gold, the RBI said.
The value of the bond is based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd) for gold of 999 purity of the last three business days of the week preceding the subscription period, that is, December 22-24.