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Sunday, August 29, 2021

Janmashtami - Krishna wants to buy cheap gold once again from

Janmashtami - Krishna wants to buy cheap gold once again from

The Reserve Bank of India has launched the sixth scheme of Sovereign Gold Bonds for the current financial year.  Subscriptions for this will start from 30th August, which will last till 3rd September.  Gold - The issue price for gold bonds has been fixed at Rs 4,732 per gram.

Applications for this will be open from Monday.  There will be a separate discount of Rs 50 per gram for online or digital payments.

The government, in consultation with the Reserve Bank, has also decided to give a rebate of Rs 50 to investors who apply online and pay digitally.  According to the RBI, the issue price of gold bonds for such investors will be Rs 4,682 per gram.  Earlier, the government had announced the issuance of government gold bonds in six installments between May 2021 and September 2021.  The RBI issues bonds on behalf of the Government of India.  Bonds are sold through banks (excluding small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges through the National Stock Exchange of India Limited and BSE.

 Sovereign Gold or Paper Gold

 Sovereign Gold Bond is a type of paper gold.  Because writing on paper allows you to invest in gold.  The price of a bond is determined by the weight of the gold.  In other words, the price of a bond will be the same as the price of physical gold in the market.  This rate is determined by the price per gram of gold.  The value of the bond will be equal to the number of grams of gold.  If you sell it, you will get the right price for gold.

 These bonds also earn interest.  2.5% interest is available on the issue price of Sovereign Gold Bonds.  The maturity of the bond is 8 years.  If you sell a bond after maturity, there is no need to pay any tax on the profit.  In this way, there is no tax on the interest earned on the bond every 6 months.

 Maximum investment limit up to 4 kg gold

 An investor can buy gold bonds ranging from 1 gram to 4 kg in a year.  According to the Reserve Bank, the value of gold bonds is determined by the purity of 24 carat gold.  The scheme was launched by the Reserve Bank in 2015.  According to a statistic, the Reserve Bank sold about 65 tonnes of gold last year.  Paper gold i.e. sovereign gold bond has been introduced so that people do not keep physical gold in their homes and people can earn on gold.

 Six major benefits of investing in gold bonds

 Assured Return Nature - Investors in Sovereign Gold Bonds will earn an interest rate of 2.5% per annum.  This interest will be available on a semi-annual basis.
 Exemption from Capital Gains Tax: There will be no capital gains tax on redemption.
 Loan Facility: Can be used as collateral for loan.
 No storage problems: Storage is not a problem like safe, physical gold.
 Liquidity: Can track on exchanges.
 Exemption from GST making charge: Unlike physical gold, there is no GST and making charge.

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