Latest Tranche of Sovereign Gold Bond Scheme Opened for Subscription

SEATTLE (Scrap Monster): The latest tranche of sovereign gold bond (SGB) has opened for subscription today. This is the eight tranche of the offer, said the notification by the finance ministry.

According to the notification, investors will have a 5-day window to purchase digital gold. The window will be open from today until Friday, December 3, 2021. The issue price of the SGB has been fixed at INR 4,791 per gram. However, the online subscribers of the scheme who make digital payment will receive a discount of INR 50 per gram and thus will have to pay INR 4,741 per gram.

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As per guidelines issued by the Reserve Bank of India (RBI), individual investors are allowed to make investments ranging from one gram to 4 kilograms. The purchase limit for Hindu Undivided Families is set at 4 kilograms, whereas trusts and other organizations can invest up to 20 kilograms. The application must be made through banks, Stock Holding Corporation of India Limited (SHCIL), stock exchanges NSE and BSE, designated post offices, or through agents.

The investment in SGB has been gaining pace during recent times, on account of varied benefits offered by the same. The government has reportedly raised over INR 31,000 crore of funds through the scheme till date.