Government of India, in consultation with the Reserve Bank of India, has decided to issue    Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued as specified below:

 

The Bonds can be purchased from any Post office under Gujarat Circle. The Minimum size of Sovereign Gold Bond will be 1 gram. 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 (April-March) notified by the Government from time to time. The Tenure of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates. Payment for the Bonds will be through cash payment (up to a maximum of ₹ 20,000) or demand draft or cheque or electronic banking. The Gold Bonds will be issued as Government of India Stock under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form. The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value. Bonds will be tradable on stock exchanges. The redemption price will be in Indian Rupees based on simple average of closing price of gold of 999 purity, of previous 3 working days published by IBJA Ltd.

The scheme has received very favourable response from the Postal customers & investors who are looking for new kind of investment option which are safe, secure and guaranteed returns. In the last tranche, investors had purchased Sovereign Gold Bond for more than 35 Kg from the Post offices in Gujarat.

For more information, please contact to your nearest Post office or on telephone no. 079-25505386 / Email:- dymanagerbd[at]gmail[dot]com

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