First tranche of 2022-23 gold bonds to open for subscription on June 20
The Hindu
Mumbai
The first tranche of Sovereign Gold Bond (SGB) for 2022-23 will open for subscription for five days from June 20, the Reserve Bank of India (RBI) said on Thursday.
The RBI further said that the second tranche (2022-23 Series II) will be available for subscription during August 22-26.
The central bank issues the bonds on behalf of the Government of India, and these bonds are restricted for sale to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions.
"The tenor of the SGB will be for a period of eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable," the RBI said, and added, minimum permissible investment will be one gram of gold.
In 2021-22, SGBs were issued in 10 tranches for an aggregate amount of ₹12,991 crore (27 tonnes).
The maximum limit of subscription is 4 Kg for individuals, 4 Kg for HUFs and 20 Kg for trusts and similar entities per fiscal year.
The RBI further said the price of SGB will be fixed in rupees on the basis of a simple average of the closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period.
Mangaluru police arrest four individuals and seize half a kg of MDMA worth ₹50 lakh intended for local youth.
Uddhav Thackeray calls for appointing Leaders of Opposition in Maharashtra Assembly, stressing the need for constitutional compliance ahead of the Winter Session.
Shashi Tharoor highlights English's significance in India, emphasizing its enriched lexicon through Indian word borrowings at a literature festival.
Cricket fans in Vizag enjoyed a thrilling ODI as Kohli, Rohit, and Jaiswal delivered memorable performances for Team India.
Congress leaders, including Kharge and Gandhi, meet to address the Karnataka leadership struggle, planning further discussions.
Kerala's local body polls focus on regional issues and candidates, not a referendum on the LDF government, experts say.
A 74-year-old man and his sister lose ₹80.5 lakh in a digital arrest scam by cyber fraudsters posing as police.
Social Justice Minister honors Dr. B.R. Ambedkar on his death anniversary, joined by top officials in floral tributes and reflections.
NPCIL is to blame for storage of radioactive waste on site of Kudankulam nuclear power plant: Appavu
Tamil Nadu Speaker Appavu criticizes NPCIL for unsafe nuclear waste storage at Kudankulam, urging better solutions for public safety.
Raghavasimhan Sankaranarayanan’s AI innovation, Hathaani, blends the soul of Carnatic music with cutting-edge technology.
Banu Mushtaq discusses the power of storytelling in dismantling societal norms at the Bengaluru Literature Festival.
Sunali Khatun returns home to West Bengal after being detained in Bangladesh, highlighting ongoing struggles for repatriation and justice.
German Chancellor Friedrich Merz visits Israel for the first time to strengthen ties amid recent tensions over the Gaza conflict.