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Fourth tranche of Sovereign Gold Bonds: Applications for the bond will be accepted from July 18, 2016 to July 22, 2016

News and Press Release - Dated:- 15-7-2016 - The Government of India, in consultation with the Reserve Bank of India, has decided to issue fourth tranche of Sovereign Gold Bonds. Applications for the bond will be accepted from July 18, 2016 to July 2 .....

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ombay Stock Exchange. 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, three tranches of issuan .....

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ility 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 .....

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nt 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 500 grams will be applied to the .....

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receding the subscription period. 10 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. 11 Issuance form Government of India Stock under GS Act, 2006. .....

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old of 999 purity published by IBJA. 13 Sales channel Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of Ind .....

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e used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time. 16 KYC Documentation Know-your-customer (KYC) norms will be the same as that for purchase of physic .....

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