Sovereign Gold Bond scheme 2021-22 opens Monday

Sovereign Gold Bond Scheme 2021-22 - Series XI will be open for five days for subscription from January 10 to January 14, 2022. RBI has stated that the nominal value of the bond works out to be Rs 4,791 per gram of gold. The settlement date will be January 18, 2021.

"In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated October 21, 2021, Sovereign Gold Bonds 2021-22 (Series IX) will be opened for subscription during the period January 10-14, 2022 with Settlement date January 18, 2022," read the official statement from the Ministry of Finance.

The government in consultation with the RBI has decided to allow discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode.

For such investors the issue price of Gold Bond will be Rs 4,741 per gram of gold. The issue price for the previous series was Rs 4,761 per gram of gold.

The bonds will be sold through banks (except Small Finance Banks and Payment 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 Limited.

The Sovereign Gold Bond Scheme was launched back in November 2015. The objective of this scheme is to reduce the demand for physical gold and shift a part of the domestic savings that are used for the purchase of gold into financial savings.