Modi government announces sale of Sovereign Gold Bonds
The Modi government has announced the sale of Sovereign Gold Bonds (SGBs) at a discounted price starting today. The SGBs can be invested in both online and offline modes for a period of 5 days. For offline purchases, interested buyers need to visit the designated banks and complete all the necessary formalities. For online investments, applications need to be submitted through the website of RBI or other authorized banks. A discount of Rs. 50 per gram will be applicable for online purchases.
Key points:
– The SGBs are issued by the RBI on behalf of the government.
– The minimum investment required is 1 gram of gold, and a maximum of 500 grams can be purchased at once.
– The maturity period of the bond is 8 years.
– The bonds can be bought using UPI, net banking, cash, cheque, or draft.
– The purchase limit for some institutions is up to 20 kilograms.
– The value of the bond will be determined based on the current market price of gold.
– The bonds can be sold before maturity on the stock exchange, provided that the investor has a demat account.
– The application process for offline and online purchases involves filling out the necessary forms, providing personal information, and making the payment.
SGBs are an attractive investment option for those who want to invest in gold and get fixed returns. The bonds are also a safer investment option than physical gold as they do not carry the risk of theft or loss. The government has made it easier for investors to purchase SGBs through both online and offline modes. This move is expected to encourage more investors to invest in SGBs and reduce the demand for physical gold.
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