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Sovereign Gold Bonds 2015-16 - Terms and Conditions

RBI - RBI 2015-16/290 - Dated:- 14-1-2016 - RBI 2015-16/290 IDMD.CDD.No.1573/14.04.050/2015-16 January 14, 2016 The Chairman& Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Stock Holding Corporation of India Ltd.(SHCIL) Dear Sir/Madam, Sovereign Gold Bonds, 2015-16 Government of India has vide its Notification F.No. 4(19)-W&M/2014 dated January 14, 2016 announced that the Sovereign Gold Bonds, 2016 ( the Bonds ) will be open for subscription from January 18, 2016 to J .....

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dent in India is defined under section 2(v) read with section 2(u) of the Foreign Exchange Management Act, 1999 2. Form of Security The Bonds shall be issued in the form of Government of India Stock in accordance with section 3 of the Government Securities Act, 2006. The investors will be issued a Holding Certificate (Form C). The Bonds shall be eligible for conversion into de-mat form. 3. Date of Issue Date of issuance shall be February 08, 2016. 4. Denomination The Bonds shall be denominated i .....

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e of 2.75 percent (fixed rate) per annum on the amount of initial investment. Interest shall be paid in half-yearly rests and the last interest shall be payable on maturity along with the principal. 7. Receiving Offices Scheduled commercial banks (excluding RRBs), designated Post Offices (as may be notified) and Stock Holding Corporation of India Ltd (SHCIL) are authorized to receive applications for the Bonds either directly or through agents. 8. Payment Options Payment shall be accepted in Ind .....

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e fixed in Indian Rupees on the basis of the previous week s (Monday - Friday) simple average closing price for gold of 999 purity, published by IBJA. 10. Repayment The receiving office shall inform the investor of the date of maturity of the Bond one month before its maturity. 11. Eligibility for Statutory Liquidity Ratio (SLR) The investment in the Bonds shall be eligible for SLR. 12. Loan against Bonds The Bonds may be used as collateral for loans. The Loan to Value ratio will be as applicabl .....

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