Modi government’s plan: You will be able to buy gold at a discount for the next five days
Sovereign Gold Bond: There is a discount on the purchase of gold under this scheme. In this scheme, any investor can buy gold bonds. The price of this bond has been fixed at Rs 5,197 per gram.
Sovereign Gold Bond: The second series of the Sovereign Gold Bond scheme of the Reserve Bank of India for the financial year 2022-23 is opening for five days from Monday i.e. today. There is a discount on the purchase of gold under this scheme. In this scheme, any investor can buy gold bonds. The price of this bond has been fixed at Rs 5,197 per gram.
RBI said, for investors buying gold bonds online or digitally, the bond price will be lower by Rs 50 per gram. The issue price of Gold Bond for online investors is Rs 5147 per gram.
The first plan came in 2015
The government is running the Sovereign Gold Bond Scheme since November 2015. In the last financial year i.e. 2021-22, the Reserve Bank had introduced a gold bond scheme in 10 installments in which a total of Rs 12,991 crore gold bonds were issued.
what is the purchase limit
Under this scheme, an individual buyer can buy a minimum of one gram and a maximum of four kilograms of gold. Whereas for HUF this limit is 4 kg and for trust or similar entities this limit is 20 kg. These gold bonds can only be sold to citizens of India, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions.
long term profit tax waived
Long term profit tax is waived on this bond. In this gold bond scheme, investors can withdraw their money from the fifth year onwards. However, its maturity period has been kept at eight years. In the year 2015-16, in the first phase of the gold bond scheme, the price was fixed at Rs 2,684 per gram. Had one redeemed it in May 2021, he would have made 80 per cent profit as the bond price at that time was Rs 4,837 per gram.
Know Your Customer (KYC) norms will be the same as for physical gold purchases. An individual buyer can buy a minimum of one gram and a maximum of four kilograms of gold.