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The Indian government is reportedly considering discontinuing the popular Sovereign Gold Bond scheme, citing its complexity and rising costs. Launched in 2015 to curb gold imports, the programme has raised over ₹72,000 crore so far

Gold Investment Alert: India Reportedly Weighs Scrapping Sovereign Gold Bond Scheme

The Indian government is reportedly considering discontinuing the popular Sovereign Gold Bond scheme, citing its complexity and rising costs. Launched in 2015 to curb gold imports, the programme has raised over ₹72,000 crore so far

The Central Government is likely to discontinue the Sovereign Gold Bond (SGB) scheme. According to government sources quoted in a CNBC-TV18 report, the government may not sell any more Sovereign Gold Bond because it's an 'expensive and complex' instrument. The Sovereign Gold Bond scheme was launched in November 2015 to tackle India&rsquo;s rising demand for physical gold. Since its inception, the government has raised a total of ₹72,274 crore through 67 tranches, equivalent of 146.96 tonnes of Gold. In the last few years the popularity of SGBs has soared, with investors buying ₹27,031 crore worth of the bonds in FY24, equivalent to 44.34 tonnes of gold. That shows a four-fold jump from bond sales worth ₹6,551 crore in FY23, representing 12.26 tonnes of gold. The Sovereign Gold Bond scheme has caught the investors&rsquo; fancy due to two factors &ndash; the first one being the surge in gold prices and the second one is the annual interest income. In 2015, when SGBs were launched, gold prices were hovering around ₹2,600 per gram. However, currently gold is trading at almost ₹7,400 per gram, generating a 200% return since the scheme&rsquo;s inception. Now, the sovereign gold bonds are benchmarked to domestic gold prices. This means that investors will get the returns on the bond that reflect the surge in the domestic gold prices. The second factor is the interest income through SGBs. When the government launched this scheme, it promised a 2.5% per annum simple interest return on investment. This return was to lure investors away from physical gold, which was unable to generate any additional income for investors. In 2015 the scheme made sense due to falling prices of gold and government&rsquo;s push to curb gold imports to curb high current account deficit. However, in 2024 it has become an expensive instrument for the government due to the surge in gold prices. In fact, the government has not launched any new tranche of the Sovereign Gold Bonds in almost six months now. The last tranche of SGBs for the 2023-2024 series was available for subscription from February 12, 2024 to February 16, 2024.&nbsp;

The maximum limit of subscription is 4 kg for individuals, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal year

Sovereign Gold Bond price fixed at Rs 6,263/gm; issues opens on Feb 12th

<h2>The maximum limit of subscription is 4 kg for individuals, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal year</h2>

The Reserve Bank of India has announced the issue price of the upcoming tranche of Sovereign Gold Bond, set to open for subscription from Monday onwards. The price has been fixed at 6,263 rupees per gram. Scheduled for subscription from February 12th to February 16th, 2024, the Sovereign Gold Bond Scheme 2023-24 - Series IV presents an opportunity for investors to diversify their portfolios. In a move to incentivize digital transactions, the Government of India, in collaboration with the Reserve Bank, has decided to offer a discount of 50 rupees per gram less than the nominal value to investors applying online and making digital payments. Consequently, for such investors, the issue price of Gold Bond will be 6,213 rupees.
Also read/watch -<a title=" EaseMyTrip enters hospitality sector; to invest Rs 100-crore for 5 star hotel in Ayodhya " href="https://www.editorji.com/business-news/economy/easemytrip-enters-hospitality-sector-to-invest-rs-100-crore-for-5-star-hotel-in-ayodhya-1707715818340"> EaseMyTrip enters hospitality sector; to invest Rs 100-crore for 5 star hotel in Ayodhya</a>
The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
The price of SGB is fixed in Indian rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period.
The investors are compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.
The maximum limit of subscription is 4 kg for individuals, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal year.
The tenor of the SGB will be eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable.
The Reserve Bank of India issues the bonds on behalf of the Government of India.
The bonds can be used as collateral for loans.

 BSE launches Electronic Gold Receipts: all you need to know

The announcement came after the exchange last month received final approval from the Securities and Exchange Board of India (Sebi) for introducing EGR on its platform.

Leading stock exchange BSE has launched &nbsp;Electronic Gold Receipt (EGR) on its platform, a move that will help in efficient and transparent price discovery of the yellow metal.
It introduced two new products of 995 and 999 purity during the Muhurat trading on Diwali and trading will be in multiples of 1 gram and deliveries in multiples of 10 gram and 100 gram, the exchange said in a statement.
The announcement came after the exchange last month received final approval from the Securities and Exchange Board of India (Sebi) for introducing EGR on its platform.
BSE in February received in-principle approval from Sebi after which the exchange conducted several mock trading in the test environment for its members to facilitate trading in EGRs.
EGRs will cater to all market participants, which means that buyers and sellers on the exchange will include individual investors, as well as commercial participants along the value chain like importers, banks, refiners, bullion traders, jewellery manufacturers, and retailers.
"The launch of EGRs represents a significant milestone not only for the BSE but also for the global bullion industry. BSE is committed to continuously facilitating access to high-quality investment-based products and services for our stakeholders," Sameer Patil, CBO at BSE said on Monday.
The EGR platform will lead to greater assurance in the quality of gold supplied, efficient price discovery, and transparency in transacting. This can create a vibrant gold ecosystem in India by enabling actual fungibility of gold. &nbsp; &nbsp; &nbsp; India is the second largest consumer of gold globally with annual gold demand of approximately 800-900 tonne and holds an important position in the global markets.
The country has remained a price-taker in the global markets, and at present, does not play any significant role in influencing the price-setting for the commodity.
A platform for EGR infuses transparency in gold spot transactions, enables India to emerge as the price setter, and would eliminate existing market inefficiencies.

The first tranche of Sovereign Gold Bond or SGB scheme for the current fiscal opened for subscription and here's everything you need to know about the scheme:
Issue price and interest rate: The issue price has been fixed at ₹5,091 per gram of gold. Investors are paid a fixed rate of interest of 2.5% per annum payable semi-annually on the nominal value.
Main dates: The Reserve Bank of India’s (RBI’s) sovereign gold bond scheme has opened for application on June 20 and it will remain open for application till June 24. This is the first tranche for the SGB Scheme 2022-23. According to media reports, the scheme’s next issue will open on August 22, 2022, and close on August 26.  
What are Sovereign Gold Bond scheme: Under the sovereign gold bond scheme, the RBI issues the bonds on behalf of the government. These bonds are sold through banks, Stock Holding Corporation of India (SHCIL), Clearing Corporation of India (CCIL), post offices, and stock exchanges – National Stock Exchange of India (NSE) and BSE. 
The scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings – used for the purchase of gold – into financial savings.
The issue price has been fixed at ₹5,091 per gram of gold.
Who Can Invest: Resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions can buy the bonds.
Tenure: The tenure of the SGB will be for a period of eight years with an option of premature redemption after fifth year to be exercised on the date on which interest is payable.
How To Buy: The bonds will be sold through commercial banks, Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices (as may be notified), National Stock Exchange and BSE, either directly or through agents. The bonds will be issued on on June 28.
Minimum & Maximum Size: Minimum permissible investment will be one gram of gold, while the maximum limit of subscription shall be 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal year (April-March) notified by the government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include SGBs subscribed under different tranches, and those purchased from the secondary market, during the fiscal year.

Sovereign Gold Bond Scheme open: Get gold at a discount

Sovereign Gold Bond 2022-23; here’s everything you need to know 

The minimum investment allowed is one gram. The maximum for individuals is 4 kg and HUF. For trusts, the maximum limit is 20 kg&nbsp;

The first tranche of Sovereign Gold Bond or SGB scheme for the current fiscal opened for subscription and here's everything you need to know about the scheme:
Issue price and interest rate: The issue price has been fixed at ₹5,091 per gram of gold. Investors are paid a fixed rate of interest of 2.5% per annum payable semi-annually on the nominal value.
Also read/watch| <a title="Home buyers' dilemma as housing projects get stuck! What to do" href="https://www.editorji.com/business-news/home-buyers-dilemma-as-housing-projects-get-stuck-what-to-do-1655875799130">Home buyers' dilemma as housing projects get stuck! What to do</a>
Main dates: The Reserve Bank of India&rsquo;s (RBI&rsquo;s) sovereign gold bond scheme has opened for application on June 20 and it will remain open for application till June 24. This is the first tranche for the SGB Scheme 2022-23. According to media reports, the scheme&rsquo;s next issue will open on August 22, 2022, and close on August 26.&nbsp;&nbsp;
What are Sovereign Gold Bond scheme: Under the sovereign gold bond scheme, the RBI issues the bonds on behalf of the government. These bonds are sold through banks, Stock Holding Corporation of India (SHCIL), Clearing Corporation of India (CCIL), post offices, and stock exchanges &ndash; National Stock Exchange of India (NSE) and BSE.&nbsp;
The scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings &ndash; used for the purchase of gold &ndash; into financial savings.
The issue price has been fixed at ₹5,091 per gram of gold.
Who Can Invest: Resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions can buy the bonds.
Tenure: The tenure of the SGB will be for a period of eight years with an option of premature redemption after fifth year to be exercised on the date on which interest is payable.
How To Buy: The bonds will be sold through commercial banks, Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices (as may be notified), National Stock Exchange and BSE, either directly or through agents. The bonds will be issued on on June 28.
Minimum &amp; Maximum Size: Minimum permissible investment will be one gram of gold, while the maximum limit of subscription shall be 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal year (April-March) notified by the government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include SGBs subscribed under different tranches, and those purchased from the secondary market, during the fiscal year.

Subscription for the&nbsp;&nbsp;Sovereign Gold Bond Scheme (Series IV) by the Reserve Bank of India will open for five days from July 12 to July 16.&nbsp;What is the price?
According to the RBI, an issue price of&nbsp;₹&nbsp;4,807&nbsp;per unit, equivalent to the value of one gram of gold, is applicable for&nbsp;the second installment of the gold bond scheme 2021-22. The date of issuance for the fourth tranche is set as July 20, 2021.&nbsp;Who and how much can you invest?Minimum permissible investment is 1 gram of gold. The maximum limit of subscription is 4 kg for individual, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities per fiscal (April-March).How can you invest?The sovereign gold bonds&nbsp;are sold through banks, designated post offices, recognised stock exchanges -&nbsp;Bombay Stock Exchange (BSE)&nbsp;and National Stock Exchange (NSE), and the Stock Holding Corporation of India Limited. Gold bonds are held in demat&nbsp;form.Push for digital subscriptionThe government, in consultation with the Reserve Bank of India (RBI), also provides a discount of Rs 50 per gram to those investors applying online and the payment against the application is made through digital mode.

 Sovereign Gold Bond Scheme: Issue opens today Here is all you need to know

Can gold add the much needed shine to your portfolio. Click here to know if you should subscribe to&nbsp;the Gold Bond Scheme that opens today .&nbsp;

Sovereign Gold Bond Scheme 

Gfx&nbsp; Gold Sovereign Bond&nbsp;
<ul>
<li>Scheme to open for 5 days&nbsp;</li>
<li>Open for subscription from July 12-16&nbsp;</li>
<li>Issue price: ₹&nbsp;4,807&nbsp;per unit = 1 gram of gold</li>
<li>Issue of Gold Bond: July 20&nbsp;</li>
<li>Maximum Investment: 4 kg for Individual, 4 kg for HUF, 20 kg for Trusts</li>
<li>To Subscribe: Banks, Post Office, BSE, NSE,&nbsp;Stock Holding Corporation of India Limited.</li>
<li>Alert: Discount of Rs 50 per gram to digital applicants</li>
</ul>

<h1 class="post-title">Gold Bond Scheme Series IV: Issue price fixed at Rs 4,807/gm</h1>

Subscription for the&nbsp;&nbsp;Sovereign Gold Bond Scheme (Series IV) by the Reserve Bank of India will open for five days from July 12 to July 16.&nbsp; What is the price?
According to the RBI, an issue price of&nbsp;₹&nbsp;4,807&nbsp;per unit, equivalent to the value of one gram of gold, is applicable for&nbsp;the second installment of the gold bond scheme 2021-22. The date of issuance for the fourth tranche is set as July 20, 2021.&nbsp; Who and how much can you invest? Minimum permissible investment is 1 gram of gold. The maximum limit of subscription is 4 kg for individual, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities per fiscal (April-March). How can you invest? The sovereign gold bonds&nbsp;are sold through banks, designated post offices, recognised stock exchanges -&nbsp;Bombay Stock Exchange (BSE)&nbsp;and National Stock Exchange (NSE), and the Stock Holding Corporation of India Limited. Gold bonds are held in demat&nbsp;form. Push for digital subscription The government, in consultation with the Reserve Bank of India (RBI), also provides a discount of Rs 50 per gram to those investors applying online and the payment against the application is made through digital mode.

gold bond scheme

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