Sovereign Gold Bond Scheme to be opened for Subscription Next Week: Here’s all you Need to Know

The Sovereign Gold Bond Scheme for the fiscal year 2023-2024 will be opened for subscription from the 18th to 22nd of December, as per a government notification.
The issue price of the bond during the subscription period shall be Rs 6,199 per gram, as per an RBI statement on Friday.

As per the government Notification last week, the settlement date for the scheme is slated on December 28. The Government of India in consultation with the Reserve Bank of India has decided to allow a discount of Rs 50 per gram to investors who apply online, and the payment is made through digital mode.

The move is seen as incentivisation for cashless payments through UPI (Unified Payments Interface). The issue price of the Gold Bond via digital payments will be Rs 6,149 per gram of gold. In September, the Reserve Bank of India (RBI) had fixed the issue price for the tranche of Sovereign Gold Bond at Rs 5,923 per gram. Back then as well, a Rs 50 discount was announced for investors using digital payments for the transaction.

Last week, a finance ministry statement said the government will issue a fresh tranche of sovereign gold bonds (SGBs) this month, and one more in February. The Series IV is scheduled for February 12-16, while the Series I was open for subscription during June 19-23 and Series II during September 11-15.