Executive Summary:
This document from the Reserve Bank of India (RBI) announces Series I and II of the Sovereign Gold Bond (SGB) Scheme 2022-23, as per the Government of India's notification dated June 15, 2022. Subscription periods are specified for each series, and applications must include valid PAN details. Receiving Offices are responsible for accepting applications and providing SGB-related services to investors.
Key Points / Main Content:
* **SGB Scheme 2022-23 - Series I and II:**
* Two distinct series (Series I and II) will be issued under the Sovereign Gold Bond Scheme 2022-23.
* Terms and conditions are as per the Government of India notification dated June 15, 2022.
* **Dates of Issuance and Subscription:**
* Series I: Subscription from June 20-24, 2022; Issuance on June 28, 2022.
* Series II: Subscription from August 22-26, 2022; Issuance on August 30, 2022.
* The Central Government may close the scheme early with prior notice.
* **Application Process:**
* Applications can be made in Form A or a similar format, specifying the gold units and applicant details.
* Valid PAN details are mandatory for all applications.
* Online applications must include the investor's email ID, to be uploaded on the RBI's Ekuber portal with subscription details.
* **Receiving Offices:**
* Designated Scheduled Commercial Banks, Post Offices, Stock Holding Corporation of India Ltd, Clearing Corporation of India Ltd, and recognized stock exchanges (NSE and BSE) are authorized Receiving Offices.
* Receiving Offices must accept applications directly or through agents and provide comprehensive customer service.
* They must issue acknowledgment receipts in Form B.
* Receiving Offices must follow RBI's Consolidated Procedural Guidelines (circular IDMD.CDD.110014.04.0502021 22 dated October 22, 2021) for servicing the bonds.
* **General Terms:**
* All other terms and conditions are as specified in the Government of India notification F.No.42WM2018 dated March 27, 2018.
Impact Analysis
* **Scheduled Commercial Banks, Designated Post Offices, Stock Holding Corporation of India Ltd, National Stock Exchange of India Ltd, Bombay Stock Exchange Ltd, Clearing Corporation of India Ltd (Receiving Offices):**
* *Impact:* Responsible for accepting applications, providing customer service, and adhering to RBI guidelines for the SGB scheme.
* *Action Required:* Ensure staff are familiar with the scheme details, application process, and RBI's procedural guidelines, including circular IDMD.CDD.110014.04.0502021 22 dated October 22, 2021.
* **Investors:**
* *Impact:* Opportunity to invest in Sovereign Gold Bonds with specific subscription and issuance dates.
* *Action Required:* Prepare applications with valid PAN details and apply during the subscription periods for Series I (June 20-24, 2022) and Series II (August 22-26, 2022). Online applicants should provide their email ID.
Key Entities Referenced
Reserve Bank of India: The central bank of India and the issuer of this notification.
Sovereign Gold Bond Scheme 2022-23: A government scheme for issuing gold bonds.
Government of India: The governing body of India, which announced the Sovereign Gold Bond Scheme 2022-23.
National Stock Exchange of India Ltd: A recognized stock exchange in India authorized to receive applications for Sovereign Gold Bonds.
Bombay Stock Exchange Ltd: A recognized stock exchange in India authorized to receive applications for Sovereign Gold Bonds.
Stock Holding Corporation of India Ltd: An entity authorized to receive applications for Sovereign Gold Bonds.
Clearing Corporation of India Ltd: An entity authorized to receive applications for Sovereign Gold Bonds.
Mumbai, Maharashtra: City in India where the Central Office of the Internal Debt Management Department of Reserve Bank of India is located.
भारतीय �रज़व� ब�क
RESERVE BANK OF INDIA
RBI/2022-23/72
IDMD.CDD. No.S789/14.04.050/2022-23 June 16, 2022
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 2022-23
Government of India, vide its Notification No F.No4.(6)-B (W&M)/2022 dated June 15,
2022, has announced Series I and II of Sovereign Gold Bond Scheme 2022-23. Under
the Scheme, there will be a distinct series (Series I and II) for every tranche. 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:
Sr. Tranche Subscription Period Date of Issuance
No.
1. 2022-23 Series I June 20-24, 2022 June 28, 2022
2. 2022-23 Series II August 22-26, 2022 August 30, 2022
3. Period of subscription
The Subscription of the Gold Bonds under this 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.
____________________________________________________________________
____
आंत�रक ऋण �बंध िवभाग, क��ीय कायार्लय, क��ीय कायार्लय भवन, 23 व� मंिज़ल, शहीद भगत �संह मागर्, मुंबई - 400 001, भारत
फोन: (022)-22661602-04; फैक्स : (022)-22644158, 22705125; ई-मले : cgmidmd@rbi.org.in
Internal Debt Management Department, Central Office, Central Office Building, 23rd Floor, Shahid Bhagat Singh Marg, Mumbai-400 001, India
Tel: (022)-22661602-04; Fax: (022)-22644158, 22705125; E-mail: cgmidmd@rbi.org.in
�हदं ी आसान ह,ै इसका �योग बढ़ाइए4. 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 grams (in units) 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 which are 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 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 of the SGB and are required to
be guided by the rules and regulations issued by Reserve Bank 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 has issued
Consolidated Procedural Guidelines vide circular IDMD.CDD.1100/14.04.050/2021-
22 dated October 22, 2021 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,
(Rakesh Tripathy)
Chief General Manager