ministry of finance

On 14-6-2023, the Ministry of Finance notified the Sovereign Gold Bond Scheme 2023-24 having distinct Series which will be indicated on the Bond issued to the investor. The provisions came into force on 14-6-2023.

Key Points:

  1. Bonds issued under this Scheme can be held by a Trust/ HUFs/ Charitable Institution/ University/ resident of India/ an individual/ individual behalf of minor.

  2. Application for subscribing for Gold Bonds has to be made to any Receiving Officer in Form A.

  3. Every application made will be accompanied by the ‘PAN Number’ issued by the Income Tax Department to individuals and other entities.

  4. The bond will be issued in the form of a Stock Certificate as specified in Form C.

  5. The bonds can be converted into Demat Form.

  6. The Interest on bonds will commence from the date of issue and payable at fixed rate of 2.50% p.a. on the nominal value of bond.

  7. Redemption- on expiration of 8 years from the date of issue the bond will be redeemed in Indian Rupees.

  8. These Bonds can be used as collateral security for availing loan.

  9. Transfer and Trading of Gold bonds are allowed.

  10. Forms-

    • Form A- Application for subscribing

    • Form B- Acknowledgment Receipt by Receiving Officer

    • Form C- Issue of Gold Bonds

    • Form D- Nomination

    • Form E- Cancellation

    • Form F- for Transfer of Gold Bonds

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