Business
Sovereign Gold Bond: Applying for the New Sovereign Gold Bond Tranche? Here are 14 Things You Should Know | India Business News
[ad_1]
Sovereign Gold Bonds (SGB): You can Sovereign Gold bonds or SGBs in person through agents or receiving officers. Submit your application to branches during regular business hours on specific subscription weeks set by the RBI and the Government of India. Use the recommended Form A for your subscription.
Follow the SGB procedure guidelines to understand how the receiving officer will handle your application and obtain a certificate of holding if your application is accepted.Are looking to apply for the latestSovereign Gold Bond (SGB) tranche? Here’s a comprehensive guide with 15 key points to keep in mind:
Follow the SGB procedure guidelines to understand how the receiving officer will handle your application and obtain a certificate of holding if your application is accepted.Are looking to apply for the latestSovereign Gold Bond (SGB) tranche? Here’s a comprehensive guide with 15 key points to keep in mind:
- PAN details: Each application must include PAN details issued by the
Income Tax Department . Additional relevant information will be gathered if necessary. Investor ID: A unique Investor ID generated from RBI’s E-Kuber is required for SGB applications. If an applicant already possesses an investor ID from earlier tranches, it should be quoted in subsequent applications.- Existing Investor ID: Receiving officers should confirm the details of any existing investor ID. Failure to provide this information may result in the rejection of the application.
- Payments: Payments for SGB subscription can be made in Indian Rupees through cash (up to Rs. 20,000/-), cheque, demand drafts, or electronic banking. Payments for SGBs held in the RDG Account must be made through electronic banking.
- Incomplete applications: The
ROs have to make sure that applications are complete, as incomplete ones are liable to be rejected. - Online applications: Receiving officers can facilitate online applications for better customer service. Online applications must include the email ID of the investor/s and be uploaded on the Ekuber portal along with subscription details.
- Acknowledgement receipt: Upon receiving a complete application, the receiving officer will issue an acknowledgment receipt in Form B.
- Requirements fulfillment: Incomplete applications will be rejected if all requirements are not fulfilled within the specified subscription period.
- Cancellation of Bonds: Bond cancellation is allowed until the closure of the issue; however, partial cancellation is not permitted after closure.
- Confirmation: Receiving officers must enter data or perform bulk uploads for subscriptions on RBI’s E-Kuber portal, ensuring accuracy. Immediate confirmation will be provided for the receipt of applications.
- Interest payment: Applicants are eligible for interest on the subscription amount at the savings bank rate from the application date to the date of allotment.
- Status of application: Rejected applications by RBI’s E-Kuber system should be promptly notified by receiving officers, and the subscription amount refunded without delay.
- Certificates of Holding: Certificates of Holding are generated on the allotment date and sent to customers with provided email IDs. ROs can also download certificates from RBI’s E-Kuber portal for distribution.
- Late refund penalties: ROs will incur penalties at the rate of the Repo rate plus 2% per day for any delay in reimbursing the amount to applicants whose applications have been rejected.
- To buy Sovereign Gold Bonds (SGB) online via
SBI Net Banking, follow these steps: Login to SBI Net Banking, go to ‘e-Service,’ select ‘Sovereign Gold Bond Scheme,’ and if you’re a first-time investor, register by providing necessary details, accepting terms and conditions, and completing the registration process. Enter your personal details, add nomination, select the Depository participant, enter DP ID and Client ID, and finally, confirm and submit your details.
To buy Sovereign Gold Bond scheme through SBI, log in to SBI Net Banking, navigate to ‘e-Service,’ choose ‘Sovereign Gold Bond Scheme,’ select ‘Purchase’ from the header tab, agree to the ‘Terms and Conditions,’ proceed to enter subscription quantity and nominee details, click ‘Submit,’ enter OTP, and confirm to view all details of your SGB investments on a new page.
#Sovereign #Gold #Bond #Applying #Sovereign #Gold #Bond #Tranche #India #Business #News
