Govt of India to Issue Sovereign Gold Bonds 2018-19 | CORPORATE ETHOS

Govt of India to Issue Sovereign Gold Bonds 2018-19

By: | October 9, 2018
Gold Demand

Oct 9: Govt Of India will issue Sovereign Gold Bonds 2018-19 every month from October 2018 to February starting October 15-19 for 2018-19 Series II with date of issuance October 23, 2018. The rest of the schedule will be as follows- 2018-19 Series III (Subscription Period November 5-9, Issuance November 13), 2018-19 Series IV (Subscription December 24-28, 2018, Issuance: Jan 1, 2019), 2018-19 Series V (Subscription January 14-18, 2019 Issuance: Jan 22) and 2018-19 Series VI (Subscription: February 04-08, 2019, Issuance -Feb 12, 2019).

The Bonds issued by Reserve Bank of India on behalf of India Government will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited. Minimum permissible investment will be one gram of gold and the bonds will be denominated in multiples of grams of gold with a basic unit of one gram. The maximum limit subscribed shall be 4 Kg for individual, 4 Kg for HUF and 20 kg for trusts. The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value.