SGB Series 2023-24 Series IV Subscription Opens Soon
MAS Team | 04 January 2024
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The first Sovereign Gold Bond (SGB) of 2024, SGB Series 2023-24 Series IV, is set to open for subscription from February 12 to February 16, 2024. Issued by the Reserve Bank of India (RBI) on behalf of the central government, the bonds come with a tenor of eight years and the option of premature redemption after the fifth year, exercisable on the interest payment date. Here are the key details:
- Subscription Period: February 12 – February 16, 2024
- Date of Issuance: February 21, 2024
- Maximum Subscription Limits:
o Individuals: 4 kg per fiscal year
o HUF: 4 kg per fiscal year
o Trusts and Similar Entities: 20 kg per fiscal year
- Interest Rate: Fixed at 2.50% per annum, payable semi-annually on the nominal value.
The prices of SGBs are fixed in Indian Rupees based on the simple average closing price of gold (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.
While the interest on SGBs is taxable as per the provisions of the Income Tax Act, 1961, the capital gains tax arising on redemption of SGB is exempted for individuals. Long-term capital gains from the transfer of SGBs are eligible for indexation benefits.
Sovereign Gold Bonds will be available for purchase through various channels, including 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 recognized stock exchanges like the National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
In addition to the upcoming SGB Series IV, investors can also refer to the recently issued Sovereign Gold Bond 2023-24 Series III, which had an issue price of Rs6,199 per gram and was open for subscription from December 18 to December 22, 2023, with issuance completed on December 28.
Dear Investor,
In case of any grievance / complaint :
In case of any grievance / complaint :
- Please contact Compliance Officer Pankaj Raheja at [email protected] and Phone No. - 91-22-35131664.
- You may also approach CEO Debashis Basu at email- id [email protected] and Phone No. - 91-22-35131664.
