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Sovereign Gold Bond Scheme 2022-23 – Series III

Sovereign Gold Bond Scheme 2022-23 – Series III:

RBI has announced the Sovereign Gold Bond Scheme 2022-23 – Series III, which will be open for subscription from December 19 to December 23.

  • Gold bonds are government securities denominated in grams of gold.
  • They are substitutes for holding physical gold.
  • Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
  • The bond is issued by the RBI on behalf of the government.
  • These bonds offer a superior alternative to holding gold in physical form.
  • The risks and costs of storage are eliminated.
  • Investors are assured of the market value of gold at the time of maturity and periodical interest.
  • It’s free from issues like making charges and purity in the case of gold in jewellery form.
  • The bonds are held in the books of the RBI or in demat form eliminating risk of loss.
  • While the tenor of bonds is eight years, it can be redeemed after five years.