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The Reserve Bank of India has opened the Sovereign Gold Bond Scheme 2023-24 series I for subscription, with a closing date of June 24. The issue will be available in two tranches in FY24; series II opens for subscription on September 11 and closes on September 15, 2023. The bonds are government securities that are redeemed in cash on maturity and carry a sovereign guarantee. Interest will be credited semi-annually to the bank account of the investor at a rate of 2.5%. Investors who subscribe online are offered a discount of Rs. 50 per gram of gold. ....
India s Sovereign Gold Bond Scheme 2023-24 - Series I - has opened for subscription until June 23, with a settlement date of June 27. The issue price is INR 5,926 ($79) per gram of gold, with a discount of INR 50 for online subscriptions. Investors selling before eight years of investing would be subject to short-term gains tax. However, there would be no capital gains tax if remaining invested for eight years. The bond is seen as more attractive against other forms of gold as there is no default risk and no expense in managing it. ....
The Indian government is launching the Sovereign Gold Bond Scheme (SGB) 2023-24, Series I, opening for subscription on 19 June, with a nominal value of INR5,926 ($92.5) per gram of gold. Online subscribers are also eligible for a discount of INR50 per gram. Subscriptions end on 23 June. SGBs offer several advantages over physical gold, including an interest rate of 2.5% on capital appreciation, capital gains tax exemption after eight years of investment, guarantee against default, and high liquidity via exchange trading, said personal finance expert Jitendra Solanki. ....
The government of India has decided to issue two tranches of sovereign gold bonds (SGBs) during the first half of the current financial year. The first tranche will be available for subscription from Monday, 19 June 2023 to 23 June 2023 and the second tranche will open from 11 September 2023 to 15 September 2023. ....