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Government to Issue Third Tranche of Sovereign Gold Bonds

News and Press Release - Dated:- 4-3-2016 - The Government of India, in consultation with the Reserve Bank of India, has decided to issue third tranche of Sovereign Gold Bonds. Applications for the bond will be accepted from March 8, 2016 to March 14, 2016. The Bonds will be issued on March 29, 2016. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL) and designated post offices. The borrowing through issuance of the Bond will form part of market borrowing pr .....

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India. 3 Eligibility The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and charitable institutions. 4 Denomination The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. 5 Tenor The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates. 6 Minimum size Minimum permissible investment will be 2 units (i.e. 2 grams of gold). 7 .....

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Bond will be fixed in Indian Rupees on the basis of the previous week s (Monday-Friday) simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Ltd. (IBJA). 11 Payment option Payment for the Bonds will be through cash payment (upto a maximum of ₹ 20,000/-) or demand draft or cheque or electronic banking. 12 Issuance form Government of India Stock under GS Act, 2006. The investors will be issued a Holding Certificate. The Bonds are elig .....

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