Sovereign Gold Bond scheme: gold-linked government bonds with fixed interest, demat option and eight-year redemption terms. The notification establishes the Sovereign Gold Bond Scheme 2016-17 Series IV, defining eligible holders and receiving offices, denomination (one gram multiples) and subscription limits, linking nominal and redemption values to the simple average closing price of 999 purity gold published by the India Bullion and Jewellers Association, fixing issue pricing and a fixed interest rate payable half-yearly, permitting demat conversion, specifying eight-year maturity with premature redemption after five years, enabling use as loan collateral under RBI LTV norms, and setting tax, nomination, transfer, trading and commission provisions.
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Sovereign Gold Bond scheme: gold-linked government bonds with fixed interest, demat option and eight-year redemption terms.
The notification establishes the Sovereign Gold Bond Scheme 2016-17 Series IV, defining eligible holders and receiving offices, denomination (one gram multiples) and subscription limits, linking nominal and redemption values to the simple average closing price of 999 purity gold published by the India Bullion and Jewellers Association, fixing issue pricing and a fixed interest rate payable half-yearly, permitting demat conversion, specifying eight-year maturity with premature redemption after five years, enabling use as loan collateral under RBI LTV norms, and setting tax, nomination, transfer, trading and commission provisions.
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