Sovereign Gold Bond Scheme 2022-23 Series I
The bond’s nominal value is determined by the India Bullion and Jewellers Association Ltd (IBJA) simple average closing price for gold of 999 purity on the final three working days of the week preceding the subscription period, i.e. June 15, June 16, and June 17, 2022.
According to the RBI website, investors should be aware of important FAQs about sovereign gold bonds.
What is Sovereign Gold Bond (SGB)? Who is the issuer?
Why should I buy SGB rather than physical gold? What are the benefits?
Who is eligible to invest in the SGBs?
What is the minimum and maximum limit for investment?
What are the procedures involved during redemption?
Can I encash the bond anytime I want? Is premature redemption allowed?
What do I have to do if I want to exit my investment?
Can I use these securities as collateral for loans?
What are the tax implications on i) interest and ii) capital gain?
Is tax deducted at source (TDS) applicable on the bond?
Read more on