Executive Summary:
This document from the Reserve Bank of India (RBI) announces the Sovereign Gold Bond (SGB) Scheme 2023-24, outlining the terms and conditions for issuance as per the Government of India notification dated June 14, 2023. It specifies the subscription and issuance dates for Series I and II, and details the application process through authorized Receiving Offices. The document also directs Receiving Offices to adhere to RBI guidelines for investor services.
Key Points / Main Content:
SGB Scheme 2023-24:
* Governed by Government of India Notification F.No 4.6 BWM2023 dated June 14, 2023.
* Distinct series will be indicated on the Bond issued to the investor.
Dates of Issuance:
* 2023-24 Series I: Subscription from June 19 to June 23, 2023; Issuance on June 27, 2023.
* 2023-24 Series II: Subscription from September 11 to September 15, 2023; Issuance on September 20, 2023.
* The Central Government may close the Scheme early with prior notice.
Application Process:
* Use prescribed application form (Form A) with details of gold in grams and applicant information.
* Valid PAN details are mandatory for all investors.
* Online applications must include investor email IDs, uploaded on the Ekuber portal.
Authorized Receiving Offices:
* Designated Scheduled Commercial Banks, Designated Post Offices, Stock Holding Corporation of India Ltd., Clearing Corporation of India Ltd., National Stock Exchange of India Ltd., and Bombay Stock Exchange Ltd.
* Responsible for receiving applications directly or through agents and providing customer service.
* Must issue acknowledgment receipt in Form B to the applicant.
Service to Investors:
* Receiving Offices must follow RBI's Consolidated Procedural Guidelines (IDMD.CDD.110014.04.0502021-22 dated October 22, 2021, updated as on October 4, 2022).
* Guidelines are available on the RBI website.
General Terms:
* All other terms and conditions specified in Notification F.No.42WM2018 dated March 27, 2018, apply.
Impact Analysis:
Investors:
* Impact: Can invest in Sovereign Gold Bonds during the specified subscription periods.
* Action Required: Apply using Form A with valid PAN details through authorized Receiving Offices, and provide email ID for online applications.
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: Authorized to receive applications and provide services to investors.
* Action Required: Accept applications (directly or through agents), issue Form B receipts, provide service as per RBI guidelines, and upload online application details on the Ekuber portal.
Reserve Bank of India:
* Impact: Oversees the issuance and servicing of the bonds.
* Action Required: Ensure the Receiving Offices adhere to the Consolidated Procedural Guidelines and provide necessary support.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for issuing and regulating the Sovereign Gold Bond scheme.
Sovereign Gold Bond Scheme 2023-24: A government scheme for investment in gold bonds, with distinct series issued to investors.
Government of India: The issuer of the Sovereign Gold Bonds.
Ministry of Finance, Department of Economic Affairs: The department of the Indian government responsible for the financial and economic policies related to the Sovereign Gold Bonds.
National Stock Exchange of India Ltd: A recognized stock exchange in India, authorized to receive applications for the Sovereign Gold Bonds.
Bombay Stock Exchange Ltd: A recognized stock exchange in India, authorized to receive applications for the Sovereign Gold Bonds.
Stock Holding Corporation of India Ltd.: An entity authorized to receive applications for the Sovereign Gold Bonds.
Clearing Corporation of India Ltd.: An entity authorized to receive applications for the Sovereign Gold Bonds.
भारतीय �रज़व� ब�क
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
________________________________________________________________________
आंत�रक ऋण प्रबंध िवभाग, क�द्रीय काया�लय, क�द्रीय काया�लय भवन, 23 वी ंमंिज़ल, शहीद भगत िसंह माग�, मुंबई - 400 001, भारत
फोन: (022)-22661602-04; फै� : (022)-22644158, 22705125; ई-मेल: 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
िहंदी आसान है, इसका प्रयोग बढ़ाइएby 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