Sovereign Gold Bond Scheme 2023-24; Check Issuing Price of Series-I

Sovereign Gold Bonds 2023-24 (Series I) will be offered for subscription from June 19 to 23, 2023, with a settlement date of June 27, 2023, according to Government of India Notification No.4(6)-B(W&M)/2023 dated June 14, 2023. During the subscription period, the issue price of the Bond would be Rs.5,926 (Rupees Five Thousand Nine Hundred Twenty Six only) per gramme, as declared by the RBI in their Press Release on June 16, 2023.

In collaboration with the Reserve Bank of India, the Government of India has agreed to offer a discount of Rs 50 (Rupees Fifty only) per gramme off the issuance price to investors who apply online and pay in digital manner. The issuing price of a Gold Bond for such investors would be Rs.5,876 (Rupees Five Thousand Eight Hundred Seventy Six only) per gramme of gold.

Eligibility for Investment

The Gold Bonds issued under this Scheme may be held by a Trust, HUFs, Charitable Institution, University or by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual.

Explanation–– For the purposes of this paragraph:

(i) “person” shall have the same meaning as defined in clause (u) of Section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999).

(ii) the expression “person resident in India” shall have the same meaning as defined in clause (v) of Section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999).

(iii) “Trust” means a trust constituted/formed as per the Indian Trusts Act, 1882, or a public or private trust constituted or recognized under the provisions of any Central or State law for the time being in force and also an express or constructive trust constituted for either a public religious or charitable purpose or both which includes a temple, a math, a wakf, a church, a synagogue, agiary or any other place of public religious worship, or a dharmada or any other religious or charitable endowment and also a society, formed either for a religious or charitable purpose or for both, registered under the Societies Registration Act, 1860 or under any other law for the time being in force in India.

(iv) “Charitable Institution” means a company registered under Section 25 of the Indian Companies Act, 1956 or under Section 8 of the Companies Act, 2013; or an institution, which has obtained a Certificate of Registration as a charitable institution in accordance with a law in force; or Any institution which has obtained a certificate from an Income Tax Authority for the purposes of Section 80G of the Income Tax Act, 1961.

(v) “University” means a university established or incorporated by a Central, State or Provincial Act, and includes an institution declared under Section 3 of the University Grants Commission Act, 1956 (3 of 1956), to be a university for the purposes of the Act.