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Sovereign Gold Bonds Scheme Series V opened today for subscription
The Sovereign Gold Bond Scheme Series V or the fifth tranche opens for subscription today on Monday, August 9, 2021. The settlement date for the scheme is August 17, 2021, the Finance Ministry said.
The issue price has been fixed at Rs 4,807 per gram of gold under the scheme. Sovereign gold bonds are basically government securities, issued by the Reserve Bank of India (RBI). Investors pay the issue price through cash and at the time of their maturity, the value is redeemed in cash.
The redeemed amount is equivalent to the market value of gold which is prevailing at the time of its maturity along with the interest component.
The Sovereign Gold Bond scheme has a tenure of eight years with an exit option after five years. These bonds can also be purchased through exchange traded funds (ETFs).
Investors investing in these bonds, will get 2.5 per cent interest, which would be payable half yearly. These bonds are listed on the stock exchanges.
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