Sovereign Gold Bond 2023-24: Subscription Opens Today - Check Details
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Sovereign Gold Bond 2023-24: SGBs were introduced to reduce the demand for physical gold. The first tranche of Sovereign Gold Bond Scheme (SGB) 2023-24 will open for subscription today. The bond scheme, backed by the central government, has set the issue price at Rs 5,926 per gram of gold. The SGBs will be available for subscription till Friday, June 23, with a settlement date of June 29, as per the Finance Ministry. Investors, who book their subscription online using digital payment mode, will get an additional Rs 50 discount. The gold bonds issued by the Reserve Bank of India, will be paid at a fixed rate of 2.5 per cent a year, payable twice a year on the nominal value. The final interest is payable along with the principal at the time of maturity. The second tranche of this year's sovereign gold bonds will be available from September 11 to 15. SGBs are issued by the RBI on behalf of the Central Government as an alternative to buying physical gold. The scheme was fi...