Sovereign Gold Bond Scheme (SGB) 2019-20- Series I/II/III/IV

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....inct series (starting from Series I) for every tranche which will be indicated on the Bond issued to the investor. The Government of India may, with prior notice, close the Scheme before the specified period. The terms and conditions of the issuance of the Bonds shall be as follows: 1. Eligibility for Investment: The Bonds under this Scheme may be held by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual. The bond may also be held by a Trust, HUFs, Charitable Institution and University. "Person resident in India" is defined under clause (v) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999). 2. Form of Security The Bo....

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....ne and the payment against the application is made through digital mode. 6. Period of subscription.- The Subscription of the Gold Bonds under this Scheme shall be open as specified in Section 7 below. Provided that the Central Government may, with prior notice, close the Scheme at any time before the period specified above 7. Calendar of Issuance.- S.No. Tranche Date of Subscription Date of Issuance 1 2019-20 Series I June 03-07, 2019 June 11, 2019 2 2019-20 Series II July 08-12, 2019 July 16, 2019 3 2019-20 Series III August 05-09, 2019 August 14, 2019 4 2019-20 Series IV September 09-13, 2019 September 17, 2019 8. Interest The Bonds shall bear interest from the date of issue at the rate of 2.50 percent (fix....

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..... Eligibility for Statutory Liquidity Ratio (SLR) Bonds acquired by the banks through the process of invoking lien/hypothecation/pledge alone shall be counted towards Statutory Liquidity Ratio. 14. Loan against Bonds The Bonds may be used as collateral for loans. The Loan to Value ratio will be as applicable to ordinary gold loan mandated by the RBI from time to time. The lien on the Bonds shall be marked in the depository by the authorized banks. The loan against SGBs would be subject to decision of the lending bank/institution, and cannot be inferred as a matter of right by the SGB holder. 15. Tax Treatment Interest on the Bonds shall be taxable as per the provisions of the Income-tax Act, 1961 (43 of 1961). The capital gains tax ari....