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Reserve Bank of India (RBI) has released a notification regarding the Sovereign Gold Bond Scheme 2023-24 announced by the Government of India. The scheme introduces a distinct series of bonds starting from series I, with specific terms and conditions for issuance. This notification provides important details about the subscription dates, application process, and designated receiving offices for the scheme.

The notification outlines the subscription dates for the Sovereign Gold Bond Scheme 2023-24. Series I is open for subscription from June 19 to June 23, 2023, with issuance on June 27, 2023. Series II is open for subscription from September 11 to September 15, 2023, with issuance on September 20, 2023. It also highlights that the Central Government reserves the right to close the scheme before the specified period with prior notice.

To apply for the bonds, investors must complete the prescribed application form (Form A) or a similar form, providing their gold unit preferences and personal details, along with a valid PAN card issued by the Income Tax Department. Designated receiving offices, including scheduled commercial banks, post offices, and recognized stock exchanges, are authorized to accept applications directly or through agents. An acknowledgment receipt (Form B) will be issued by the receiving office upon submission.

The notification emphasizes the need for online applicants to provide their email addresses, which should be uploaded on the Ekuber portal of the Reserve Bank of India along with the subscription details. It also directs the receiving offices to follow the Consolidated Procedural Guidelines issued by RBI for servicing the bonds and provides a link to access these guidelines on the RBI website.

 Reserve Bank of India

RBI/2023-24/44
IDMD.CDD.No.S650/14.04.050/2023-24

June 15, 2023

Scheduled Commercial Banks (as per the list attached),
Designated Post Offices (as per the list attached)
Stock Holding Corporation of India Ltd.
National Stock Exchange of India Ltd, Bombay Stock Exchange Ltd.
Clearing Corporation of India Ltd.

Madam/Dear Sir,

Sovereign Gold Bond (SGB) Scheme 2023-24

Government of India, vide its Notification No F.No 4.(6) – B(W&M)/2023 dated June 14, 2023, has announced Sovereign Gold Bond Scheme 2023-24. Under the Scheme, there will be a distinct series (starting from series I) which will be indicated on the Bond issued to the investor. The terms and conditions of the issuance of the Bonds shall be as per the above notification.

2. Date of Issue

The bonds shall be issued as per the details given below:

S. No. Tranche Date of Subscription Date of Issuance
1. 2023-24 Series I June 19 – June 23, 2023 June 27, 2023
2. 2023-24 Series II September 11 – September 15, 2023 September 20, 2023

3. Period of subscription

Subscription for the Gold Bonds under the Scheme shall be open (Monday to Friday) on the dates specified above, provided that the Central Government may, with prior notice, close the Scheme at any time before the period specified above.

4. Application

Subscription for the Bonds may be made in the prescribed application form Form A or in any other form as near as thereto, stating clearly the units (in grams) of gold and the full name and address of the applicant. Every application must be accompanied by valid ‘PAN details’ issued by the Income Tax Department to the investor(s). Designated Scheduled Commercial Banks, Designated Post Offices, Stock Holding Corporation of India Ltd., Clearing Corporation of India Ltd. and recognized stock exchanges, viz. National Stock Exchange of India Ltd. and Bombay Stock Exchange Ltd. are the Receiving Offices authorized to receive applications for the Bonds either directly or through agents and render all services to the customers. The Receiving Office shall issue an acknowledgment receipt in Form B to the applicant.

5. All online applications should be accompanied by email Id of the investor/s which should be uploaded on the Ekuber portal of the Reserve Bank of India along with the subscription details.

6. In addition to receipt of application, the Receiving Offices are also entrusted with the responsibility of providing service to the investors and are required to be guided by the instructions issued by the Reserve Bank of India in this regard from time to time. With a view to facilitate availability of all current operative instructions regarding servicing of these bonds at one place, Reserve Bank of India has issued Consolidated Procedural Guidelines vide circular IDMD.CDD.1100/14.04.050/2021-22 dated October 22, 2021 (updated as on October 4, 2022), and the same is available on RBI website. The Receiving Offices shall be guided by these instructions while dealing with all the procedural aspects and providing service to the investors.

7. All other terms and conditions specified in the notification of the Government of India, Ministry of Finance (Department of Economic Affairs) F.No.4(2)-W&M/2018 dated March 27, 2018 shall apply to the Bonds.

Yours faithfully,

(G Anandakrishnan)
Deputy General Manager

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