New Delhi: The first sale of sovereign gold bonds for the financial year 2021-22 will start from Monday, May 17 and last for five days. The Finance Ministry has informed that sovereign gold bonds will be issued in six instalments between May and September. Under the first instalment of FY 2021-22, purchases can be made between May 17 and 21 and bonds will be issued on May 25.

According to the Ministry, bonds will be sold through Stock Holding Corporation of India Limited, designated post offices and recognized stock exchanges, NSE and BSE. Small Finance Banks and Payments Banks will not be allowed to sell bonds. These bonds will be issued by the Reserve Bank of India (RBI) on behalf of the Government of India. The Finance Ministry said that the price of gold bonds will be at a normal average price of the price issued by India Bullion and Jewellers Association Limited. The price will be the average price of 999 purity gold during the last three trading days of the week before the investment period. Those who make payments online or digitally to buy bonds will get a discount of Rs 50 per gram in the price of the bond.

The bond will have a period of eight years with the option to withdraw from the bond after five years on the date of next interest payment. Investment in gold board can be made in line with the original unit of one gram. At least one gram of gold has to be invested.

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