2018-19 Series- I-Issue Price Sovereign Gold Bond | Labour Law News

2018-19 Series- I-Issue Price Sovereign Gold Bond

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Sovereign Gold Bond 2018-19 Series- I-Issue Price

Sovereign Gold Bond 2018-19 Series- I-Issue Price

RBI issued Press Release vide no 2017-2018/2738 dated April 13, 2018 regarding Sovereign Gold Bond 2018-19 Series- I-Issue Price and details as follows.

In terms of GoI notification F.No.4(8)-W&M/2018 and RBI circular IDMD.CDD.No.2651/14.04.050/2017-18 dated April 13, 2018, the Sovereign Gold Bond Scheme 2018-19 – Series I will be opened for subscription for the period from April 16, 2018 to April 20, 2018. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. April 11-13, 2018 works out to ₹3,114/- (Rupees Three Thousand One Hundred Fourteen only) per gram.

Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond will be ₹3064/- (Rupees Three Thousand Sixty Four only) per gram of gold.

Ajit Prasad

Press Release: 2017-2018/2738 Assistant Adviser

Source: RBI

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