The Sovereign Gold Bond Scheme 2021-22 Series-I or first tranche of gold bonds of fiscal 2021-22 opened for subscription on 17th May, 2021.
- The issue price has been fixed at Rs 4,777 per gram of gold while investors who apply online and make the payment online will get a discount of Rs 50 per gram.
- The RBI issues the bonds on behalf of the Government of India.
- The tenor of the bonds is for a period of 8 years with an exit option after the fifth year to be exercised on the next interest payment dates.
- The government will issue the bonds in six tranches from May 2021 to September 2021.
- Sovereign gold bonds are sold through banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
- Voter ID, Aadhaar PAN or TAN cards and passport will be required as KYC documents.
When was the Sovereign gold bond scheme launched?
- The sovereign gold bond scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings – used for the purchase of gold – into financial savings.
