Sovereign Gold Bond Scheme 2017-18– Series-III

Sovereign Gold Bond Scheme 2017-18– Series-III


RBI has announced Sovereign Gold Bond Scheme 2017-18– Series-III. The scheme is open for subscription from October 09, 2017 to December 27, 2017. The Bonds will be issued on the succeeding Monday after each subscription period. The Bonds will be sold through 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.

The average closing price [published by the India Bullion and Jewelers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, October 04-06, 2017 works out to ₹ 2956/-.Government of India, in consultation with the Reserve Bank of India, has decided to offer discount of ₹ 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 ₹ 2906/- (Rupees Two Thousand Nine Hundred and Six only) per gram of gold.

updated: 16.10.2017

For the subscription period from October 16, 2017 to October 18, 2017 with settlement on October 23, 2017, the nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewelers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. October 11-13, 2017 works out to ₹ 2987/(Rupees Two thousand Nine Hundred and Eighty Seven only)- per gram.

updated 30.10.2017

For the subscription period from October 30, 2017 to November 01, 2017 with settlement on November 06, 2017, the nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewelers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. October 25 to 27, 2017 works out to ₹ 2945/(Rupees Two thousand Nine Hundred and Forty Five only)- per gram.Government of India, in consultation with the Reserve Bank of India, has decided to offer discount of ₹ 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 ₹ 2895/- (Rupees Two Thousand Eight Hundred and Ninety Five) per gram of gold.

update: 7.11.2017

For the subscription period from November 06, 2017 to November 08, 2017 with settlement on November 13, 2017, the nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewelers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. November 01 to 03, 2017 works out to 2934/(Rupees Two thousand Nine Hundred and Thirty Four only)- per gram.

Government of India, in consultation with the Reserve Bank of India, has decided to offer discount of ₹ 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 ₹ 2884/- (Rupees Two Thousand Eight Hundred and Eighty Four only) per gram of gold.

The click below link for features of the Bond and advantage of Sovereign Gold Bond over Physical form of gold.

Advantage of Sovereign Gold Bond over Physical form of gold

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