SGB series 2023-24:When will the next Sovereign Gold Bond issue open?
Sovereign Gold Bond (SGB) Series 2023–24 schedule for the fiscal year 2023-2024.
Latest Sovereign Gold Bond (SGB) tranche issue price is the highest since launch in 2015
When is the next date of SGB 2023-24 Series IV subscription?
The SGB Series 2023-24 Series IV will open for subscription on February 12, 2024 and will close for subscriptions on February 16, 2024. The SGBs will be issued as Government of India Stock under Government Securities Act, 2006. Investors will be issued a Certificate of Holding for the same. The SGBs will be eligible for conversion into demat form.
Where can you purchase these bonds?
The SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
Maximum limit
The maximum subscription amount every fiscal year (April–March), as announced from time to time by the government, is 4 kg for individuals, 4 kg for HUFs, and 20 kg for trusts and similar businesses. At the time of submitting an application for subscription, investors will be asked to provide a self-declaration. Note that SGBs subscribed under various tranches and those bought from the secondary market during the fiscal year will be included in the yearly ceiling.
How will issue price be calculated
According to RBI press release, “Price of SGB will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working
