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Sovereign Gold Bond Scheme 2021-22 – Series X opens today, issue price fixed at Rs 5,109/gram

The Scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings — used for the purchase of the yellow metal — into financial savings.

February 28, 2022 / 07:14 AM IST

The issue price for the next tranche of Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from today, has been fixed at Rs 5,109 per gram of gold, the Reserve Bank of India (RBI) said on Friday. The Sovereign Gold Bond Scheme 2021-22 – Series X will be open for subscription for the period from February 28 to March 4.

"The nominal value of the bond…works out to Rs 5,109," the central bank said in a statement. The Government of India, in consultation with the RBI, has decided to offer a discount of Rs 50 per gram 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 Rs 5,059 per gram of gold," RBI said. The issue price for Series IX, which was open for subscription during January 10 – 14, was Rs 4,786 per gram of gold.

The RBI issues the bonds on behalf of the Government of India. The bonds will be sold through banks Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges — National Stock Exchange of India Limited and Bombay Stock Exchange Limited.