First tranche of 2022-23 gold bonds to open for subscription on June 20
The Hindu
Mumbai
The first tranche of Sovereign Gold Bond (SGB) for 2022-23 will open for subscription for five days from June 20, the Reserve Bank of India (RBI) said on Thursday.
The RBI further said that the second tranche (2022-23 Series II) will be available for subscription during August 22-26.
The central bank issues the bonds on behalf of the Government of India, and these bonds are restricted for sale to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions.
"The tenor of the SGB will be for a period of eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable," the RBI said, and added, minimum permissible investment will be one gram of gold.
In 2021-22, SGBs were issued in 10 tranches for an aggregate amount of ₹12,991 crore (27 tonnes).
The maximum limit of subscription is 4 Kg for individuals, 4 Kg for HUFs and 20 Kg for trusts and similar entities per fiscal year.
The RBI further said the price of SGB will be fixed in rupees on the basis of a simple average of the closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period.
Several principals of government and private schools in Delhi on Tuesday said the Directorate of Education (DoE) circular from a day earlier, directing schools to conduct classes in ‘hybrid’ mode, had caused confusion regarding day-to-day operations as they did not know how many students would return to school from Wednesday and how would teachers instruct in two modes — online and in person — at once. The DoE circular on Monday had also stated that the option to “exercise online mode of education, wherever available, shall vest with the students and their guardians”. Several schoolteachers also expressed confusion regarding the DoE order. A government schoolteacher said he was unsure of how to cope with the resumption of physical classes, given that the order directing government offices to ensure that 50% of the employees work from home is still in place. On Monday, the Commission for Air Quality Management in the National Capital Region and Adjoining Areas (CAQM) had, on the orders of the Supreme Court, directed schools in Delhi-NCR to shift classes to the hybrid mode, following which the DoE had issued the circular. The court had urged the Centre’s pollution watchdog to consider restarting physical classes due to many students missing out on the mid-day meals and lacking the necessary means to attend classes online. The CAQM had, on November 20, asked schools in Delhi-NCR to shift to the online mode of teaching.