In terms of Government of India notification F. No. 4(16)-W&M/2016 and RBI circular IDMD.CDD.No.2187/14.04.050/2016-17 dated February 23, 2017, the Sovereign Gold Bond Scheme 2016-17, Series IV will be opened for subscription for the period from February 27, 2017 to March 03, 2013. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the week preceding the subscription period, i.e. February 20-23, 2017 (February 24, 2017, being holiday on account of Maha Shivratri), works out to 2943/- per gram. Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of 50 per gram on the nominal value of the Sovereign Gold Bond. Hence, the issue price of Gold Bond for this tranche has been fixed at 2893 /- (Rupees Two Thousand Eight Hundred Ninety Three only) per gram of gold.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2283