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Government decides to issue Sovereign Gold Bonds Scheme 2016 -17 Series III; Applications for the bond to be accepted from October 24 2016 to November 02 2016 and the Bonds will be issued on November 17 2016

News and Press Release - Dated:- 21-10-2016 - Government of India, in consultation with the Reserve Bank of India (RBI), has decided to issue Sovereign Gold Bonds 2016-17 - Series III. Applications for the bonds will be accepted from October 24, 2016 to November 02, 2016. The Bonds will be issued on November 17, 2016. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of In .....

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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 1 grams of gold. 7 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 500 grams will be applied to the .....

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electronic banking. 11 Issuance form Government of India Stock under GS Act, 2006. The investors will be issued a Holding Certificate. The Bonds are eligible for conversion into demat form. 12 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. 13 Sales channel Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as .....

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