Jun 19, 2023
By: Anagh Pal
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The Sovereign Gold Bond Scheme(SGB) 2023-24 Series is being launched today (June 19) by the Reserve Bank of India . The subscription of this series will conclude on Friday, June 23.
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The current series will be available at ₹5,926 per unit .One unit equals one gram. There is also a discount of Rs 50 for investors who subscribe to it online.
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SGBs are government securities denominated in grams of gold. They serve as a substitute for owning physical gold. Investors purchase SGBs by paying the issue price in cash, and receive cash upon maturity.
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SGBs provide investors with the current market price upon redemption, eliminating storage costs, and risks. They offer a hassle-free alternative to physical gold, held securely by the RBI.
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SGBs are available through banks, post offices, and brokers, both online, and offline. When you apply online, you are eligible for a discount of ₹50 per gram.
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Visit the official website of your banking institution, and log in to your net banking account. Once logged in, navigate to the eServices tab, and select the 'Sovereign Gold Bond'. This may slightly vary from bank to bank.
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A window will appear displaying the terms, and conditions of the investment. Review the guidelines, and relevant information provided. After understanding the details, click on 'proceed' to proceed with the investment.
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You will now be required to complete the registration form. Enter the details requested. Once you have confirmed all the details, click on 'submit' to proceed with the registration process.
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In the purchase form, enter the number of units you want to buy. Additionally, provide the necessary information about your preferred nominee as required.
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To prevent any misinformation, please review all the provided details carefully. Once you have ensured the accuracy of the information, click on 'submit' to proceed.
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