Sovereign Gold Bond Scheme 2023-24: 2 more SGB tranches announced, latest dates, issue details
SGB Series 2023-24 details
The SGB Series 2023-24 Series III subscription period is scheduled from December 18 – December 22, 2023. Therefore, the date of issuance in SGB Series III is December 28, 2023.
The SGB Series 2023-24 Series IV subscription period is scheduled from February 12 – February 16, 2024, 2024. Therefore, the date of issuance in SGB Series III is February 21, 2024.
Source: RBI
How to buy Sovereign Gold Bonds (SGB) online through SBI, HDFC Bank, PNB, Canara Bank, ICICI Bank
Where can customers buy
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.
SGB details
The SGBs will be denominated in gram(s) of gold multiples, with a fundamental unit of one gram. The tenor of the SGB will be eight years, with an option for premature redemption after the fifth year to be exercised on the date interest is payable. The minimum allowable investment will be one gramme of gold. The SGBs will be paid for in cash (up to a maximum of 20,000), demand draft, check, or electronic banking.
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
