Sovereign Gold Bond Scheme 2024 | How To Buy SGB Online in 2024? | SGB Latest News | Gold Bonds 2024
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In this video of Josh Money, Aastha Sethi is talking about Sovereign Gold Bond Scheme by RBI.
SGB Scheme is one of the popular schemes among civilians. Because it gives a regular income source apart from preserving our capital. Sovereign Gold Bonds (SGBs) are the perfect alternative to investment in physical gold. With these bonds, you can enjoy capital appreciation and also earn interest every year. These bonds, issued by the Government of India, also eliminate several risks associated with physical gold.
Sovereign Gold Bond Scheme was launched by Govt in November 2015, under Gold Monetisation Scheme. Under the scheme, the issues are made open for subscription in tranches by RBI in consultation with GOI. RBI Notifies the terms and conditions for the scheme from time to time. The subscription for SGB will be open as per the following calendar. The rate of SGB will be declared by RBI before every new tranche by issuing a Press Release.
Under this scheme, the RBI issues the bonds on behalf of the Government of India. The bonds are sold through banks, Stock Holding Corporation of India (SHCIL), designated post offices, and recognized stock exchanges – National Stock Exchange of India (NSE) and BSE.
The Government of India, in consultation with the central bank, has decided to offer a discount of Rs 50 per gram on the nominal value to those investors who will apply online and the payment against their application is made through digital mode.
The price of the bond is fixed in Indian rupees on the basis of a simple average of the closing price of gold of 999 purity, published by the India Bullion and Jewellers Association (IBJA) for the last three working days of the week preceding the subscription period.
The bonds are denominated in multiples of gram(s) of gold with a basic unit of one gram. The tenor of the bond will be for a period of eight years with exit option after fifth year to be exercised on the next interest payment dates.
The minimum permissible investment is one gram of gold and the maximum limit of subscription is 4 kg for individual, 4 kg for HUF, and 20 kg for trusts and similar entities per financial year (April-March).
The sovereign gold bond scheme was launched in November 2015 with an objective to cut down the demand for physical gold and shift a part of the domestic savings – used for the purchase of gold – into financial savings.
Speaking on the sovereign gold bond scheme, Nish Bhatt, Founder and CEO at Millwood Kane International, said, “SGB is an efficient way for investors looking to take exposure in gold. There is no storage cost, taxes as is the case in buying physical gold. Paper gold has a higher redemption value and can be easily used to take loans against it. SGB comes with a 2.5 per cent coupon attached and tax advantage for its investors.”
He further noted that the scheme has been a huge success for the government, as it has managed to raise over Rs 32,000 crores since its inception in 2015.
As per RBI instructions “Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s)’’ as the PAN number of the first/ sole applicant is mandatory.
Some benefits of SGB Investment:
Capital appreciation is linked to gold prices.
Additional interest of 2.50% per annum.
Elimination of risk and the cost of storage applicable to physical gold.
Exemption from the capital gains tax, if bonds are held till maturity.
Features of Sovereign Gold Bonds
Tenure of eight years, with an option to exit from the bond from the fifth year and sixth month onwards.
A holding certificate is issued as proof of your investment in the bonds.
The convenience of investing online.
Bonds Investment In India: [ Ссылка ]
SGB 2021-22 Notifications: [ Ссылка ]
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