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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 .....

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ogramme of the Government of India. It may be recalled that Honourable Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, Sovereign Gold Bond, as an alternative to purchasing metal gold. Accordingly, two tranch .....

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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 .....

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Maximum limit The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained. 8 Joint holder In case of joint holding, the investment limit of 5 .....

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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 Bond .....

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ible for conversion into demat form. 13 Redemption price The redemption price will be in Indian Rupees based on previous week s (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA. 14 Sales channel Bonds will be so .....

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