Considered to be an auspicious occasion by several communities in the country, Akshaya Tritiya - the annual spring time festival, falls on May 14 this year. Traditionally, people look forward to buying gold on this day, believing that it will bring good luck. Gold is purchased in the form of coins, bars, or jewellery. However this year, amid the deadly COVID-19 pandemic and the lockdown restrictions imposed in several states, buying digital gold is a safer and convenient option for people, to invest in gold this year. (Also Read: Sovereign Gold Bonds 2021-22: Subscription For First Tranche Starts On May 17 )
One can buy digital gond through the gold bond scheme, which comes with a government guarantee and an interest income. On Wednesday, May 12, the Ministry of Finance announced that the government, in consultation with the Reserve Bank of India, has decided to issue the Sovereign Gold Bonds Scheme 2021-22.
According to the Finance Ministry, the gold bond scheme 2021 will be issued in six tranches. The subscription for the first tranche of Sovereign Gold Bonds Scheme 2021-22 will open on May 17 and will end on May 21, remaining open for a period of five days.
How To Invest In Sovereign Gold Bonds
- According to the central bank, the sovereign gold bonds will be sold through the scheduled commercial banks, except for the small finance banks and payment banks.
- They will also be sold through the designated post offices, the recognised stock exchanges - Bombay Stock Exchange Limited and National Stock Exchange of India, and the Stock Holding Corporation of India Limited.
- Gold bonds are held in the RBI books or in a demat form. The minimum permissible investment for the scheme is maintained at one gram of gold
- The Reserve Bank issues the interest-paying bonds linked to the market price of gold, as part of the sovereign gold bond scheme.
RECOMMENDED FOR YOU
POPULAR