Gold Bond Series III to opens on December 19 at Rs 5,409 per gram
- EP News Service
- Dec 17, 2022
MUMBAI: The Reserve Bank of India (RBI) has announced that it will start issuing the next tranche of Sovereign Gold Bonds (SGBs) 2022-23 Series III on behalf of the central government. It will be open for subscription for five days from December 19 and will be available till December 23.
According to an RBI public release, the issue price for the next tranche of SGB Series III 2022-23, was fixed at Rs 5,409 per gram of gold.
The Government of India, in consultation with the RBI, 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 5,359 per gram of gold,” the RBI added.
The RBI issues the bonds on behalf of the Government of India.
The Sovereign Gold Bonds (SGBs) 2022-23 - Series IV would open for subscription between March 6 and 10, 2023, the Finance Ministry said last Thursday.
The price of SGB is fixed in Indian 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 for the last three working days of the week preceding the subscription period.
The SGBs will be sold through scheduled commercial banks (except small finance banks, payments banks and regional rural banks), the Stock Holding Corporation of India, the Clearing Corporation of India, designated post offices and stock exchanges – NSE and BSE.