New Delhi: The eighth series of Sovereign Gold Bond Scheme 2020-21 will open for subscription today. The government and the Reserve Bank of India (RBI) have decided to offer a discount of Rs 50 per gram to those applying and paying for the scheme online, as per the Ministry of Finance statement.
The issue price of the scheme has been fixed at Rs 5,177 per gram and Rs 5,127 per gram for those applying online.
“The Sovereign Gold Bond Scheme 2020-21-Series VIII will be opened for subscription for the period from November 9-13. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. November 04 – 06, 2020 works out to Rs 5,177/- (Rupees five thousand one hundred seventy-seven only) per gram of gold. The government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50/- per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond will be Rs 5,127/- (Rupees five thousand one hundred twenty-seven only) per gram of gold,” the Finance Ministry statement added.