{"id":1304,"date":"2015-10-31T00:00:00","date_gmt":"2015-10-30T18:30:00","guid":{"rendered":""},"modified":"2015-12-30T12:02:09","modified_gmt":"2015-12-30T06:32:09","slug":"rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/","title":{"rendered":"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015"},"content":{"rendered":"

The Reserve Bank of India, in consultation with Government of India, has decided to issue Sovereign Gold Bonds<\/a>. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to November 20, 2015. The Bonds will be sold through banks and designated post offices as may be notified. The borrowing through issuance of the Bond will form part of market borrowing programme of Government of India.<\/p>\n

It may be recalled that Honourable Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, Sovereign Gold Bond, as an alternative to purchasing metal gold. The features of the Bond are given below:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Sl.No.<\/th>\nItem<\/th>\nDetails<\/th>\n<\/tr>\n
1.<\/td>\nProduct name<\/td>\nSovereign Gold Bond<\/a><\/td>\n<\/tr>\n
2.<\/td>\nIssuance<\/td>\nTo be issued by Reserve Bank India on behalf of the Government of India.<\/td>\n<\/tr>\n
3.<\/td>\nEligibility<\/td>\nThe Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, trusts, Universities, charitable institutions.<\/td>\n<\/tr>\n
4.<\/td>\nDenomination<\/td>\nThe Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.<\/td>\n<\/tr>\n
5.<\/td>\nTenor<\/td>\nThe tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.<\/td>\n<\/tr>\n
6.<\/td>\nMinimum size<\/td>\nMinimum permissible investment will be 2 units (i.e. 2 grams of gold).<\/td>\n<\/tr>\n
7.<\/td>\nMaximum limit<\/td>\nThe maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.<\/td>\n<\/tr>\n
8.<\/td>\nJoint holder<\/td>\nIn case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.<\/td>\n<\/tr>\n
9.<\/td>\nFrequency<\/td>\nThe Bonds will be issued in tranches. Each tranche will be kept open for a period to be notified. The issuance date will also be specified in the notification.<\/td>\n<\/tr>\n
10.<\/td>\nIssue price<\/td>\nPrice of Bond will be fixed in Indian Rupees on the basis of the previous week\u2019s (Monday\u2013Friday) simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Ltd. (IBJA).<\/td>\n<\/tr>\n
11.<\/td>\nPayment option<\/td>\nPayment for the Bonds will be through electronic funds transfer\/cash payment\/ cheque\/ demand draft.<\/td>\n<\/tr>\n
12.<\/td>\nIssuance form<\/td>\nGovernment of India Stock under GS Act, 2006. The investors will be issued a Stock\/Holding Certificate. The Bonds are eligible for conversion into de-mat form.<\/td>\n<\/tr>\n
13.<\/td>\nRedemption price<\/td>\nThe redemption price will be in Indian Rupees based on previous week\u2019s (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.<\/td>\n<\/tr>\n
14.<\/td>\nSales channel<\/td>\nBonds will be sold through banks and designated Post Offices, as may be notified, either directly or through agents.<\/td>\n<\/tr>\n
15.<\/td>\nInterest rate<\/td>\nThe investors will be compensated at a fixed rate of 2.75 per cent per annum payable semi-annually on the initial value of investment.<\/td>\n<\/tr>\n
16.<\/td>\nCollateral<\/td>\nBonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.<\/td>\n<\/tr>\n
17.<\/td>\nKYC Documentation<\/td>\nKnow-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card\/PAN or TAN \/Passport will be required.<\/td>\n<\/tr>\n
18.<\/td>\nTax treatment<\/td>\nThe interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961) and the capital gains tax shall also remain same as in the case of physical gold.<\/td>\n<\/tr>\n
19.<\/td>\nTradability<\/td>\nBonds will be tradable on exchanges\/NDS-OM from a date to be notified by RBI.<\/td>\n<\/tr>\n
20.<\/td>\nSLR eligibility<\/td>\nThe Bonds will be eligible for Statutory Liquidity Ratio.<\/td>\n<\/tr>\n
21.<\/td>\nCommission<\/td>\nCommission for distribution shall be paid at the rate of 1% of the subscription amount.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Ajit Prasad
Assistant General Manager<\/p>\n

Press Release : 2015-2016\/1047<\/p>\n","protected":false},"excerpt":{"rendered":"

The Reserve Bank of India, in consultation with Government of India, has decided to issue Sovereign Gold Bonds. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to November 20, 2015. The Bonds will be sold through banks and designated post offices as may … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[14],"tags":[199],"yoast_head":"\nRBI has decided to issue Sovereign Gold Bonds on 26th November 2015 - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015 - All About Finance\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of India, in consultation with Government of India, has decided to issue Sovereign Gold Bonds. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to November 20, 2015. The Bonds will be sold through banks and designated post offices as may ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/\" \/>\n<meta property=\"og:site_name\" content=\"All About Finance\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-30T18:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-12-30T06:32:09+00:00\" \/>\n<meta name=\"author\" content=\"Taxclick Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Taxclick Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/\"},\"author\":{\"name\":\"Taxclick Team\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227\"},\"headline\":\"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015\",\"datePublished\":\"2015-10-30T18:30:00+00:00\",\"dateModified\":\"2015-12-30T06:32:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/\"},\"wordCount\":601,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/taxclick.org\/#organization\"},\"keywords\":[\"bonds\"],\"articleSection\":[\"Investment\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/\",\"url\":\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/\",\"name\":\"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015 - All About Finance\",\"isPartOf\":{\"@id\":\"https:\/\/taxclick.org\/#website\"},\"datePublished\":\"2015-10-30T18:30:00+00:00\",\"dateModified\":\"2015-12-30T06:32:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/taxclick.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/taxclick.org\/#website\",\"url\":\"https:\/\/taxclick.org\/\",\"name\":\"All About Finance\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/taxclick.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/taxclick.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/taxclick.org\/#organization\",\"name\":\"All About Finance\",\"url\":\"https:\/\/taxclick.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png\",\"contentUrl\":\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png\",\"width\":235,\"height\":68,\"caption\":\"All About Finance\"},\"image\":{\"@id\":\"https:\/\/taxclick.org\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227\",\"name\":\"Taxclick Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g\",\"caption\":\"Taxclick Team\"},\"description\":\"This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.\",\"url\":\"https:\/\/taxclick.org\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015 - All About Finance","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/","og_locale":"en_US","og_type":"article","og_title":"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015 - All About Finance","og_description":"The Reserve Bank of India, in consultation with Government of India, has decided to issue Sovereign Gold Bonds. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to November 20, 2015. The Bonds will be sold through banks and designated post offices as may ... Read more","og_url":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/","og_site_name":"All About Finance","article_published_time":"2015-10-30T18:30:00+00:00","article_modified_time":"2015-12-30T06:32:09+00:00","author":"Taxclick Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Taxclick Team","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/#article","isPartOf":{"@id":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/"},"author":{"name":"Taxclick Team","@id":"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227"},"headline":"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015","datePublished":"2015-10-30T18:30:00+00:00","dateModified":"2015-12-30T06:32:09+00:00","mainEntityOfPage":{"@id":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/"},"wordCount":601,"commentCount":0,"publisher":{"@id":"https:\/\/taxclick.org\/#organization"},"keywords":["bonds"],"articleSection":["Investment"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/","url":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/","name":"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015 - All About Finance","isPartOf":{"@id":"https:\/\/taxclick.org\/#website"},"datePublished":"2015-10-30T18:30:00+00:00","dateModified":"2015-12-30T06:32:09+00:00","breadcrumb":{"@id":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/taxclick.org\/type\/investment\/rbi-has-decided-to-issue-sovereign-gold-bonds-on-26th-november-2015\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/taxclick.org\/"},{"@type":"ListItem","position":2,"name":"RBI has decided to issue Sovereign Gold Bonds on 26th November 2015"}]},{"@type":"WebSite","@id":"https:\/\/taxclick.org\/#website","url":"https:\/\/taxclick.org\/","name":"All About Finance","description":"","publisher":{"@id":"https:\/\/taxclick.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/taxclick.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/taxclick.org\/#organization","name":"All About Finance","url":"https:\/\/taxclick.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/taxclick.org\/#\/schema\/logo\/image\/","url":"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png","contentUrl":"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png","width":235,"height":68,"caption":"All About Finance"},"image":{"@id":"https:\/\/taxclick.org\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227","name":"Taxclick Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/taxclick.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g","caption":"Taxclick Team"},"description":"This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.","url":"https:\/\/taxclick.org\/author\/admin\/"}]}},"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"yarpp-thumbnail":false},"uagb_author_info":{"display_name":"Taxclick Team","author_link":"https:\/\/taxclick.org\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"The Reserve Bank of India, in consultation with Government of India, has decided to issue Sovereign Gold Bonds. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to November 20, 2015. The Bonds will be sold through banks and designated post offices as may…","_links":{"self":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/1304"}],"collection":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/comments?post=1304"}],"version-history":[{"count":0,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/1304\/revisions"}],"wp:attachment":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/media?parent=1304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/categories?post=1304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/tags?post=1304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}