Thursday, March 28, 2024
HomeBusinessSovereign Gold Bonds 2023-24 Series IV opens today: Can you invest? What...

Sovereign Gold Bonds 2023-24 Series IV opens today: Can you invest? What are the steps?


The public subscription of Sovereign Gold Bonds (SGB) 2023-24 Series-IV opens from today, i.e., February 12, and will be available till February 16. The issuance, on the other hand, is scheduled for February 21.

Representational Image
Representational Image

In a statement, the Union finance ministry, on whose behalf the central Reserve Bank of India (RBI) issues the bonds, said, “The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks, and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.”

Experience Delhi’s rich history through a series of heritage walks with HT! Participate Now

The first three tranches under SGB scheme 2023-24 opened last year, between June 19-23, September 11-15, and December 18-22, respectively.

Who are eligible to invest?

The list of eligible investors include:

Individual residents: Both Indian citizens and persons of Indian origin (PIO) residing in the country.

Hindu Undivided Families (HUFs): Recognised as traditional family units under Hindu law.

Trusts: Encompassing public and private trusts duly registered in India.

Universities: Covering all universities acknowledged by the University Grants Commission (UGC).

Charitable institutions: Those registered under the Income Tax Act, 1961, and holding valid 80G registration.

Who cannot invest?

Non-resident Indians (NRIs) and foreign institutional investors (FIIs) cannot invest, while minors can do so only through their guardians.

How to invest?

Step 1: Login to your internet banking account and navigate to the main menu; choose ‘e-Service’ and click on ‘Sovereign Gold Bond.’

Step 2: If you are a new customer, click on ‘Register.’ Before proceeding, read the terms and conditions set by RBI.

Step 3: Enter all details related to the scheme and provide information about the depository participant from CDSL or NSDL, depending on the hosting of your demat account.

Step 4: Complete the submission of the online registration form.

Step 5: Then, choose the purchasing option from the header link/section or directly click on ‘Purchase.’

Step 6: Input the desired subscription quantity and nominee details.

Step 7: Complete the process by entering the one-time password (OTP) sent to your registered mobile number.



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments