Banking News

Application for Sovereign Gold Bonds 2017-18

 Application for Sovereign Gold Bonds 2017-18 Series I bonds will be accepted from April 24 to April 28, as per RBI notification. The bonds will be sold as usual through banks, stock holding corporation of India (SHCIL), designated Post Offices, and recognised Stock Exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.
Payment can be made in cash up to a maximum of ₹ 20,000/- or Demand Drafts or Cheque or Electronic banking. Where payment is made through cheque or demand draft, the same shall be drawn in favour of receiving office.

The issue price of Gold Bond Scheme 2017-18 – Series I has been fixed at ₹ 2901 /-.The simple average closing price by IBJA for 999 gold purity for the week April 17 to 21,2017 works out 2951. The issue price is announced on the basis of Rs.50/- discount on the average closing price.
For operational guidelines  Read:
Advantages of sovereign gold bonds over physical form of gold

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