Sovereign Gold Bond Scheme 2022-23 (Series -2) opened for subscription .

• Sovereign Gold Bonds 2022-23 (Series -2) has been opened for subscription.
• The Finance Ministry said, the issue price of the bond during the subscription period will be 5,197 rupees per gram.
• The government in consultation with the Reserve Bank of India has decided to allow discount of 50 rupees per gram from the issue price to those investors who apply online and the payment is made through digital mode.

About

• Sovereign Gold Bond Scheme was launched by Govt in November 2015, under Gold Monetisation Scheme.
• Under the scheme, the issues are made open for subscription in tranches by RBI in consultation with GOI.
• RBI Notifies the terms and conditions for the scheme from time to time.

Features

• To be issued by Reserve Bank India on behalf of the Government of India.
• The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
• The tenor of the Bond will be for a period of 8 years with exit option in 5th, 6th and 7th year, to be exercised on the interest payment dates.
• Minimum permissible investment will be 1 gram of gold.
• The maximum limit of subscribed shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal year (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchase from the Secondary Market.