The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from May 2021 to September 2021.
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The Bonds will be sold through Scheduled Commercial 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.
The minimum permissible investment will be one gram of gold. Investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value.
The Bonds will be restricted for sale to resident individuals, Hindu Undivided Families, Trusts, Universities and Charitable Institutions.
The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates.
