Tag: Gold investment

Here’s what makes digital gold a lucrative investment option

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The history of gold dates back to almost 4000 BC when Europeans first started using the yellow metal for ornamental purposes. Later, it slowly started being used as a medium of exchange for international trade in the gold-bearing regions of Egypt. Over the centuries, the metal went from becoming the Gold Standard in the economy, a type of monetary system, to one of the safest modern-day investment assets owing to its history, safety, trust, scarcity, and tendency to be a safe-haven during financial markets crises.

Gold, when included in an investment portfolio mix, historically has helped reduce the negative impact of other high-risk investments such as stocks. Gold has also been a good long term hedge against inflation particularly given the long-term decline in the purchasing power of currencies such as the Rupee or Dollar. Gold comes in many forms including gold coins, stocks of gold-mining companies, gold ETFs, gold-related securities, gold bars, digital gold and sovereign gold bonds. In India, gold has been widely used for jewellery and investment purposes for generations, with Indian’s believed to be holding gold valued at over $1.5 Trillion.

While physical gold offers easy liquidation, the possession of actual gold in your hands poses its own challenge. Gold is a long-term asset and has historically been purchased from a dealer, which means the selling cost of gold is inflated due to commission. This commission is further deducted by the next dealer who buys your gold. Hence, you often end up receiving less than the prevailing market price of the precious metal. Add to this the challenges of buying genuine quality gold jewellery and keeping it safe.

In India, gold jewellery is a family legacy passed on from one generation to another. The yellow metal holds sentimental value and is considered to be a lucrative asset in the long run. However, when used as an investment tool, returns on gold jewellery depreciate over a period of time. While the sale price of gold jewellery consists of melting charges, making charges, labour costs and taxes, the resale value excludes these charges and what you get is a market value well below the actual cost of your jewellery.

As a result, today, the digitally-native millennial investors are looking for a hassle-free purchase of gold with lower costs, transparency in pricing, but still offering the benefits of physical gold ownership. Enter Digital Gold – a digitised form of gold investment. Digital Gold is not only an easily available and convenient way to buy gold, but it also comes with a slew of benefits such as cost savings, assured quality, secured holdings of real gold in a vault, insurance, immutable record of the transaction on the blockchain, and, more importantly, ease of access and use.

Let’s examine some of the advantages of Digital Gold:

Convenience in buying and reselling

Buying and selling physical gold requires the customer to engage with a trusted jeweller, agent or bank, which is both inconvenient and time-consuming. Digital Gold, however, can be bought and sold anytime, from anywhere, through an app on your phone. Several new-age companies and mobile apps facilitate the sale of Digital Gold with just a few clicks, both in India as well as global vaults such as Switzerland or Singapore. Unlike the sale of physical gold, digitally sold gold does not require the seller to go to a bank for a money transfer. The e-wallet or net banking options on digital gold platforms facilitate this transfer. Further, these digital platforms regularly provide updates on the price of gold in real-time, almost immediately indicating the current value of a buyer’s gold.

No storage hassles

If you are the owner of tangible gold products, their storage and safety become your primary concern. Many investors store their gold in bank lockers, but this comes at a cost vis-à-vis account opening cost, registration fees, annual charges and accompanying service charges among others. With Digital Gold, the onus of storage and safety rests on the provider, who bears all the costs of preserving the gold in a safe vault. Some Digital Gold providers also insure your gold at his expense. All these factors make Digital Gold a less stressful and hassle-free investment.

Guaranteed purity of gold

In addition to security, Digital Gold ensures the quality of the yellow metal in conjunction with the gold purity standard. Gold sold on digital platforms comes with a certification of purity by the standards authority in the provider’s country. The gold thus purchased comprises 24K purity akin to physical gold and the entire buying price goes towards purchasing the asset. This makes it a more profitable instrument than physical gold.

Long-term outlook

Digital Gold gives investors the flexibility to determine when, where and how they want to procure and invest in the precious metal, which was something of a challenge with traditional forms of gold. The fractional investing model behind Digital Gold enables new-age investors to make an informed, low-cost and low-risk investment that suits their long-term needs.

Following the global pandemic and the ensuing economic uncertainty, gold and the precious metals market have found favour among the investor community. The renewed interest in gold has put the spotlight on Digital Gold and its benefits, prompting investors – especially millennials – to reevaluate their investment portfolio.

The digitised form of gold investment offers transparency in trading and is a safe option for first-time investors. Digital Gold providers to provide buyers flexibility in investment amount. Location of gold, cost of execution, and convenience of being able to a transaction from the comfort of their homes.

Digital Gold heralds a new digitised economy – a marriage between the world’s oldest most trusted commodity and 21st century’s smart technology – and is the investment of the future.

The author, Ashraf Rizvi, is founder and CEO at Digital Swiss Gold and Gilded. The views expressed are personal

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Planning to invest in sovereign gold bonds? Here’s all you need to know

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The twelfth tranche of the Sovereign Gold Bond (SGB) scheme for 2020-21 opened for subscription on Sunday. The issue price for the same has been fixed at Rs 4,662 per gram of the yellow metal. Online subscribers can however secure these bonds at a discount of Rs 50 per gram.

This subscription of bonds will close on Mach 5, according to the Reserve Bank of India (RBI).

Here’s all you need to know about Sovereign Gold Bond (SGB) scheme:

What is SGB?

SGB is issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

Who can buy it?

These are restricted for sale to resident individuals, HUFs (Hindu Undivided Families), trusts, universities and charitable institutions.

What are the investment limits?

The minimum permissible amount allowed for investment in SGB is one gram of gold. The maximum subscription limit for SGBs is 4 kg for individuals, 4 Kg for HUF, and 20 kg for trusts and similar entities per fiscal (April-March).

When SGBs mature?

The tenor of the bond is for a period of eight years with an exit option after the fifth year to be exercised on the interest payment dates.

What is the tax treatment?

The interest on gold bonds is taxable as per the provision of Income Tax Act. The capital gains tax arising on redemption of SGB to an individual is, however, exempted. The indexation benefits are provided to long-term capital gains arising to any person on transfer of bond.

Should one invest in it?

According to Nish Bhatt, Founder & CEO, Millwood Kane International – an investment consulting firm, investment in paper gold is the best and the most effective way of investing in the yellow metal.

Bhatt suggests individuals to have an allocation of 5-20 percent of any portfolio depending on the risk appetite.

“Gold prices have been falling since the news of an effective vaccine was reported, as it has ignited hope that the rising number of cases will be arrested and the pandemic will end soon. Gold prices have fallen to hit an 8-month low on rising US Treasury yield, appreciating dollar, and global economic recovery. Moving forward, treasury yield, dollar movement, and the pace of economic recovery worldwide will guide gold prices,” he opines.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Here’s how govt’s investor charter will impact gold investments

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Authored by Mahendra Luniya

Budget plays a vital role in accelerating the economic growth of any country and the general public in India had many expectations from the FY 2021-22 budget as it was supposed to be the “Big Budget” after numerous mini-budgets announced in the previous calendar year to deal with the economic contraction brought about by the pandemic.

Much to the satisfaction of the people, the budget has come as a boon for gold investors.

The pandemic had left the economy unstable and every instability adds value to gold as investors shift to safer options to park their funds.

The Federal Reserve Bank has been printing currency ever since the pandemic hit, to provide a cushion to the steep fall in economic activity and to revive it. The total printing of $3 trillion dollars has generated liquidity, which has helped the economy but eventually has fuelled the inflation cycle, giving the gold the opportunity to shine. This is because inflation reduces the net return earned by investors in various asset classes & gold has always acted as a hedge towards inflation.

In line with the steps taken by the central bank of US, the government in India has come up with better steps such as allocating more funds towards Capital and developmental expenditure. This would drastically increase the public expenditure resulting in stimulating liquidity. The quantum of increased liquidity also stimulates the overall percentage allocation to gold in portfolios.

One of the budget measures, related to provident fund investment works to favor the long-term gold bull run. The step is taken to tax interest earned above Rs 2, 50,000 will target the higher income groups and automatically divert their fund allocation to other investment options. Provident fund was viewed as a safe investment option and gold matches the same requirement as well as investors would prefer Sovereign Gold Bonds, Exchange-traded funds and other digital gold options for more liquidity.

The specific gold-related measures in the budget include that the Gold exchange will from now be regulated by the Securities Exchange Board of India (SEBI) which is a historic step taken by the government that will boost the trade-in exchange as it will increase the faith of investors and also attract new investors towards the yellow metal.

Moreover, it has been seen that in recent times the common people have started to understand the concept of investing better. For example, nowadays if people want to take insurance they prefer term insurance over other endowment options, similarly, people have now understood that if they want to wear jewelry then they prefer physical gold. They have understood that buying jewelry as an investment is not a good option when other options like Sovereign Gold Bonds (SBGs) are available.

The buyer ends up paying around 10 percent more money when buying gold physically which includes making charges, indirect taxes, etc. This is the reason that the recent series of SGBs and Gold ETFs have outperformed drastically. Thus the recent measure regarding Gold exchange, which from now will be regulated by SEBI, will support the idea of investment in Digital gold. This measure is also welcomed by the Sarafa Association.

The second measure taken in the budget is the proposed reduction in the rate of customs duty which was paid for importing the metal from 12.5 percent to 10 percent. This would lead to lower import costs which will be passed on as lower rates and that will also stimulate the buying mindset in customers. Also as the customs duty was very high earlier, it led to malpractices such as smuggling, increasing the black market of the commodity. But the reduced rates will prove to be an incentive to undertake imports from the legal route. This will result in transparency and accountability strengthening the faith of the customers.

The sharp rise that the commodity experienced in the recent past made it seem overvalued to the retail customers squeezing the demand. The measures in the budget will help revive the love for gold that people had earlier suppressed. Moreover, the wedding season will kick off soon increasing the immediate demand for the commodity.

Considering the factors that we have elaborated above and the steps taken by the government through the budget, it is conclusive that the yellow metal is set to shine brighter and the returns thus generated will heavily outperform other asset classes.

Mahendra Luniya is Founder and CEO at Vighanaharta Gold Limited. Views are personal

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Will customs duty cut increase gold demand among investors?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government, while presenting Union Budget 2021-22, proposed to slash import duties on gold and silver to 7.5 percent from 12.5 percent. However, it also imposed a 2.5 percent cess – a separate tax – on the imports.

After the changes, gold imports would effectively attract a 10.75 percent tax.

With this announcement, Vaibhav Saraf, director, Aisshpra Gems and Jewels believes that demand will get a major boost due to correction in the gold prices following the slash in duties.

Ashraf Rizvi, founder and CEO of Digital Swiss Gold (DSG) and Gilded seconds Saraf’s thoughts and added, “The Union budget was quite positive for the economy and the reduction in import duties will surely increase gold demand relative to 2020. In addition, the pent up demand due to the impact of COVID-19 coupled with the positive effects of large scale vaccinations in India is likely to increase Indian gold demand to levels approaching or even eclipsing that of 2019.”

Also read: Here’s why investing in ‘Sovereign Gold Bond’ may not be right now

Further, Rizvi said his analysis of data from the last 50 years shows that the rupee has lost over 95 percent of its value while savings in bank deposits have barely kept up with inflation.

“We found that the value of rupee has depreciated by over 11 percent y-o-y relative to gold. Gold not being a fiat asset provides investors protection against currency devaluations. As a result of ongoing currency depreciation across the world, gold has been a very good investment for Indians. Gold is a global non-fiat asset that is impacted by economic developments across the world, therefore, it is expected to have some volatility in prices on a daily basis,” he suggests.

It must be noted that the rupee-dollar equation has a role to play in Indian gold rates. Gold is largely imported and hence, if the rupee weakens against the dollar, gold prices will likely appreciate in rupee terms.

Prices of gold will remain in focus till there is complete clarity on the vaccination drive across the world, its efficacy and global economic recovery.

Meanwhile, Ishu Datwani, founder, ANMOL believes that the actual drop in the price is not substantial to really kickstart demand just because of the drop in price – but, because there are weddings, markets opening up businesses doing better, they are seeing consumers flocking to the store to buy jewelry.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Subscription to Sovereign Gold Bonds under tenth tranche ends today; here’s all you need to know about its tax benefits

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The tenth installment (series X) of the Sovereign Gold Bond (SGB) scheme for 2020-21 will close for subscription today. The issue price for the same is Rs 5,104 per gram of the yellow metal. Online subscribers can, however, secure these bonds at a discount of Rs 50 per gram.

SGB is issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

The market price of these bond move in line with domestic gold prices.

SGBs earn interest at 2.5 percent on initial investment and have a maturity period of 8 years with an option to exit from the fifth year onwards.

According to Archit Gupta, founder, and CEO, ClearTax, the interest earned in case of SGB is taxed as income from other sources.

In case, the bonds are held to maturity, the capital gains are tax-exempt. However, capital gains are payable on the transfer of SGB like transfer of physical gold or ETF or Gold MF.

“The bonds are traded on exchanges in demat form and redeemable after the fifth year. When sold before maturity, the gains are long-term capital gains and taxable at 20 percent (plus education cess and surcharge). The purchase price can be indexed using the cost inflation index,” explains Gupta.

Considering tax benefit (if held till redemption), SGB can be considered as a preferred investment. Also, 2.5 percent interest can make a big difference to the overall return.

Additionally, with SGBs, investors are not required to worry about the storage of gold as it is in a demat form. Also, there are no local taxes that a buyer needs to pay while buying.

People looking to invest in SGBs can do it via online banking or through their Demat accounts.

To invest through banks, customers will need to log into their net banking account. The bank page will show the SGB option (mostly in investment options). It can also be available on the bank’s home page or under services.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Looking to prematurely withdraw sovereign gold bonds? Here’s all you need to know

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Sovereign gold bonds or SGBs are issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after the fifth year from the date of issue on coupon payment dates. The bond is tradable on exchanges, if held in demat form. It can also be transferred to any other eligible investor.

In case of premature redemption, investors can approach the concerned bank/SHCIL offices/post office/agent thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date, according to Reserve Bank of India (RBI).

The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

On maturity, these bonds are redeemed in rupees and the redemption price is based on simple average of closing price of gold of 999 purity of previous 3 business days from the date of repayment, published by the India Bullion and Jewelers Association Limited.

The investors are advised one month before maturity regarding the ensuing maturity of the bond.

On the date of maturity, the maturity proceeds are credited to the bank account as per the details on record. In case there are changes in any details, such as account number, email ids, then the investor must intimate the bank/SHCIL/PO promptly.

Meanwhile, the tenth installment (series X) of SGB scheme for 2020-21 is ongoing. The issue price for the same has been fixed at Rs 5,104 per gram of the yellow metal. Online subscribers can however secure these bonds at a discount of Rs 50 per gram. This subscription of bonds will close on January 15, according to the Reserve Bank of India (RBI).

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sovereign gold bonds open for subscription today; should you invest?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The tenth installment (series X) of the Sovereign Gold Bond (SGB) scheme for 2020-21 opened for subscription today. The issue price for the same has been fixed at Rs 5,104 per gram of the yellow metal. Online subscribers can however secure these bonds at a discount of Rs 50 per gram.

This subscription of bonds will close on January 15, according to the Reserve Bank of India (RBI).

SGB is issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

The minimum permissible amount allowed for investment in SGB is one gram of gold. The maximum subscription limit for SGBs is 4 kgs for individuals, 4 kgs for HUF, and 20 kgs for trusts and similar entities per fiscal (April-March).

According to Nish Bhatt, Founder & CEO, Millwood Kane International, an investment consulting firm, SGB is one of the favorite routes for retail investors looking to take exposure in gold.

“There is a dual benefit in investing in SGB as investors stand to gain 2.5 percent per annum fixed interest on their investment and the rise in the value of gold once the bond is redeemed,” he opines.

Additionally, with SGBs, investors are not required to worry about the storage of gold as it is in a demat form. Also, there are no local taxes that a buyer needs to pay while buying.

Talking about the performance of gold, Bhatt says that the yellow metal posted double-digit growth in 2020 and it has been trading in a range of Rs 48,000-52,000 for some time now.

“Gold has been trading sideways due to the strengthening of the dollar and higher bond yields in the US which makes buying gold expensive for international investors,” he adds.

Going forward, Bhatt says, a proper handover of the regime in the US with minimum friction, additional fiscal stimulus by the incoming administration at the White House, global economic recovery, and the efficacy of the vaccination process will guide prices of gold.

People looking to invest in SGBs can do it via online banking or through their Demat accounts.

To invest through banks, customers will need to log into their net banking account. The bank page will show the SGB option (mostly in investment options). It can also be available on the bank’s home page or under services.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Should you be investing in gold in 2021?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Gold performed well in 2020 with gains of nearly 28 percent in rupee terms (YTD). This was the second year in a row when gold posted such a stellar rise.

This made many individuals realise that a sensible portion of their investment has to be in this yellow metal.

Now, as we have entered 2021, it is important to see if the yellow metal will continue to remain in focus for investors.

According to Prof Arvind Sahay, Chairperson, IGPC, gold prices still have the scope to increase by 20 to 25 percent in 2021-22.

“As a new normal is yet to be established in the financial markets, there could be some systemic risks looming, which may provide support for higher prices for gold,” he believes.

Ishu Datwani, Founder of ANMOL, seconds Sahay’s views and says that gold will continue seeing a steady and gradual appreciation of prices in 2021.

Snehal Choksey, Director of Shobha Shringar Jewellers, meanwhile, expects gold to reach 2,300 per Oz by the end of 2021.

However, Pranjal Kamra, CEO – Finology, says the same kinds of returns cannot be expected in the coming years.

“The yellow metal delivered stellar returns in the calendar year 2020 but these kinds of returns cannot be expected in the coming years since the economy is expected to revive, given the liquidity infusion by different central banks and the availability of vaccine in the world,” Kamra warns.

Now, with that difference in views, is it a wise idea to invest in gold in 2021 too?

Ravindr Rao, VP- Head Commodity Research at Kotak Securities, believes that it’s always good to invest in gold.

“With the huge monetary and fiscal expansion, concerns about inflation, currency debasement and debt, defaults are increasing and this itself gives investors enough reason to remain invested in gold. The weaker outlook for the US dollar on the back of loose monetary policy stance and worsening virus situation also makes a bullish scenario for gold,” he opines.

Escalating virus situation is proving to be a challenge for the global economic recovery.

Thus, in 2021, Rao expects, the key area of focus will be how soon a large population is vaccinated to help economies reopen and normalise.

“The overall outlook for gold remains bullish for the third consecutive year and investors should remain invested from a diversification perspective,” he suggests.

Additionally, as Kamra says, gold can always be considered as a healthy investment instrument that can be used for hedging.

“Therefore, irrespective of the market conditions, one must invest 5-10 percent of their portfolio in gold without worrying much about the short-term fluctuation,” he advises.

While traditionally gold was exchanged or bought in a physical form and still is, there are certain problems attached to handling physical gold such as storage or chances of theft, purity concerns, etc. Given the problems associated with physical gold, one could invest in gold ETFs, digital gold, or sovereign gold bonds instead.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

How to buy sovereign gold bonds online from SBI? Here’s your guide

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The ninth tranche (IXth) of the Sovereign Gold Bond (SGB) scheme for 2020-21 will close for subscription on Friday i.e. January 1, 2021. The issue price for the same has been fixed at Rs 5,000 per gram of the yellow metal. Online subscribers can, however, secure these bonds at a discount of Rs 50 per gram.

SGB is issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

Investors can invest in SGBs through their demat accounts or via online banking. Several banks such as the State Bank of India (SBI) provide the option of buying SGBs online.

Here are the steps to invest in SGB via SBI:

Step 1: Log in to SBI net banking account using credentials

Step 2: After login, click on eServices and go to ‘Sovereign Gold Bond’

Step 3: Check the debit account that is to be used

Step 4: Select ‘terms and conditions’ and click on ‘proceed’

Step 5: Fill the registration form. This is a one-time registration that may require some mandatory inputs

Step 6: Now, click on submit. The purchase form appears which is to be filled by entering the subscription quantity and nominee details.

Step 7: Again, click on ‘submit’

As per RBI instructions, every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s) as the PAN number of the first/ sole applicant is mandatory.

Also read: Here’s what makes SGB an attractive investment

The maximum limit of subscribed will be 4 kg for individuals, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal year (April-March) notified by the government from time to time. The annual ceiling will include bonds subscribed under different tranches during initial issuance by the government and those purchase from the secondary market.

The bonds will be restricted for sale to resident Indian entities including individuals (in his capacity as an individual, or on behalf of a minor child, or jointly with any other individual), HUFs, Trusts, Universities and Charitable Institutions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow