Sovereign gold bonds 2023-24 series IV opens today, here’s how to invest

By:
on Feb 12, 2024
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  • The public subscription will remain open until February 16
  • These bonds offer investors an opportunity to invest in gold without the hassle of physical ownership.
  • The bonds will be available for purchase through various channels.

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The public subscription for Sovereign Gold Bonds (SGB) 2023-24 Series-IV commences today, February 12, and will remain open until February 16. The issuance date is set for February 21.

Issued by the Reserve Bank of India (RBI) on behalf of the Union finance ministry, these bonds offer investors an opportunity to invest in gold without the hassle of physical ownership.

The bonds will be available for purchase through various channels including scheduled commercial 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.

Eligibility criteria

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Investors eligible to participate in the subscription include:

Individual residents: Both Indian citizens and Persons of Indian Origin (PIO) residing in India.

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Trusts: Public and private trusts duly registered in India.

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

Charitable Institutions: Entities registered under the Income Tax Act, 1961, with valid 80G registration.

Ineligible participants

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Non-Resident Indians (NRIs) and Foreign Institutional Investors (FIIs) are not eligible to invest in the Sovereign Gold Bonds. Minors can invest only through their guardians.

How to invest

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

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

Step 3: Enter all necessary details related to the scheme and provide information about the depository participant from either Central Depository Services Limited (CDSL) or National Securities Depository Limited (NSDL), depending on the hosting of your demat account.

Investors are encouraged to seize this opportunity to diversify their investment portfolio and benefit from the potential appreciation of gold prices through Sovereign Gold Bonds.

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