Sovereign Gold Bond 2023-24 Series IV Closes Today: 7 Key Points To Know

New Delhi: The Sovereign Gold Bond Scheme  2023-24 - Series IV that opened for subscription on Monday is goint to be closed today (February 16, 2024).

Sovereign Gold Bond Scheme are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.

Here Are 7 Key Points About Sovereign Gold Bond Scheme  2023-24 - Series IV 

1. This is a great opportunity for investors to invest in gold, a safe and secure asset backed by the Central Government. 

2. RBI has announced that the installment of SGB 2023-24 - Series IV has been fixed at Rs 6,263 per gram of gold

3. Further there will be discount of Rs 50 per gram less than the nominal value to those investors applying online and making the payment against the application through digital mode. 

4. For such investors, the issue price of Gold Bond will be Rs 6,213

5. The sale of the bond will be made through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges BSE and NSE.

6. The bonds will be sold through scheduled commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

7. The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.