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Date : Nov 29, 2019
Sovereign Gold Bond Scheme 2019-20 Series-VII - Issue Price

In terms of GoI notification F.No.4(7)-B(W&M)/2019 and RBI circular IDMD.CDD. No.890/14.04.050/2019-20 dated September 30, 2019, the Sovereign Gold Bond Scheme 2019-20-Series VII will be opened for subscription for the period from December 02 – December 06, 2019. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. November 27 – November 29, 2019 works out to ₹3,795/- (Rupees Three Thousand Seven Hundred Ninety Five only) per gram of gold.

Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50/- per gram less than the nominal value 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 ₹3,745/- (Rupees Three Thousand Seven Hundred Forty Five only) per gram of gold.

Ajit Prasad
Director  

Press Release : 2019-2020/1309


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