Sign In
Learn bits
Economy, Schemes & Policies
Mahesh

20/08/22 06:10 AM IST

Sovereign Gold Bond Scheme 2022-23 (Series II)

In News 
  • Sovereign Gold Bonds 2022-23 (Series II) will be opened for subscription during the period August 22-26, 2022 with Settlement date August 30, 2022.
SGB scheme 
  • It 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.
  • The Gold Bonds are issued as Government of India Stock under the Government Securities (GS) Act, 2006.
  • These are issued by the RBI (Reserve Bank of India) on behalf of the Government of India.
  • The minimum permissible investment limit will be 1 gram of gold, while the maximum limit will be 4 kg for individuals, 4 kg for Hindu Undivided families and 20 kg for trusts and similar entities per fiscal (April-March) notified by the government from time to time.
  • Bonds are sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges vizNational Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
  • The bonds are restricted for sale to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions.
  • The gold bonds come with a maturity period of eight years, with an option to exit the investment after the first five years
  • Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loans mandated by the Reserve Bank from time to time.
Source- PIB 

More Related Current Affairs View All

15 Nov

Government issues guidelines to curb misleading ads by coaching centres

'The central Government issued new guidelines aimed at curbing misleading advertisements by coaching institutes, specifically prohibiting false promises such as "100 per cent selec

Read More

15 Nov

Janjatiya Gaurav Divas

'Every year on November 15th, Janjatiya Gaurav Divas is celebrated to honor the contributions of these communities, especially in India’s freedom struggle.' 5th November

Read More

15 Nov

Supreme Court’s order on mandatory accessibility standards

'A bench of the Supreme Court last week ordered the Union government to frame mandatory rules for ensuring the accessibility of public places and services to persons with disabilit

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps