Sovereign Gold Bond 2023–24: Next tranche to open next week; all you need to know

The next tranche of the sovereign gold bonds (SGBs) will open for subscription this month. The date for subscription for 2023–24 Series III is December 18–22, 2023, while Series IV is scheduled for February 12–16, 2024, a finance ministry statement said Friday (December 8).  "The price of SGB will be fixed in Indian rupees based on a simple average closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period," said the PIB release. 

 
SGB Bond 2023: Here is everything you need to know before investing.
 

•  The bonds will be sold through banks, the Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges (NSE and BSE).
• The bonds are denominated in multiples of grams of gold, with a basic unit of 1 gram.
• The maximum limit of subscription is 4 kg for individuals, 4 kg for Hindu Undivided Families (HUFs), and 20 kg for trusts and similar entities per fiscal.
•  The tenor of the bond will be eight years, with an exit option after the fifth year to be exercised on the next interest payment dates.
• The Know-Your-Customer (KYC) norms will be the same as those for the purchase of physical gold.
• The issue price of the SGBs will be less by Rs 50 per gram for investors who subscribe online and pay through digital mode.

 
About Sovereign Gold Bond Scheme
 

The Sovereign Gold Bond Scheme was launched by the government in November 2015 under the Gold Monetisation Scheme. Under the scheme, the issues are made open for subscription in tranches by the RBI in consultation with the Government of India. RBI notifies the terms and conditions of the scheme from time to time. The rate of SGBs is declared by the RBI before every new tranche via a press release.