RBI Notifies Launch Of Sovereign Gold Bond Scheme 2019-20 Series VIII

The RBI noted that the Sovereign Gold Bond Scheme 2019-20 - Series VIII will be opened for subscription for the period from January 13 -January 17, 2020. 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. January 08 - January 10, 2020 works out to Rs 4,016/- (Rupees Four Thousand and sixteen only) per gram of gold. Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 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 Rs 3,966/- (Rupees Three Thousand Nine Hundred Sixty Six only) per gram of gold.

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