Scroll Text

........ CITIZENS DUTY & SLOGAN ::: It shall be the duty of every Citizen of India to defend the Country and render National service when called upon to do so ... SLOGAN ::: "That loyalty to the Country becomes ahead of all other loyalties. And this is an absolute loyalty since one can not weight it in terms of what one receives" (Lal Bahadur Shastri) ..... # Stay at home, be safe and extend support in fight against COVID-19 ......... .......

scroll text 2

......... .............. CONGRATULATIONS TO THE SELECTED CANDIDATES FOR THE POSTS OF GDS .........................Shri Kamalesh Chandra Committee recommendations are being implemented from 01-07-2018 after the Cabinet approval on 06th June 2018....

MESSAGE FROM CHQ

Dear Comrade newly elected Divisional / Branch Secretaries of AIPEU-GDS -- PLEASE SEND YOUR POSTAL ADDRESS WITH PIN CODE, MOBILE NUMBER, E-MAIL ID THROUGH SMS TO ..09849466595.. OR BY E-MAIL TO >aipeugdsnfpe@gmail.com< IMMEDIATELY................... CRUSADER TO GRAMIN DAK SEVAKS (2nd Edition -2016) is ready and can place indent to AIPEU GrC (CHQ), NEW DELHI-8....... One copy Rs.225/- (560 pages) ..... Send e-MO for Rs.250/- to receive one copy of the Book by Regd. Book Paket..........

Thursday, November 5, 2015

Sovereign Gold Bonds scheme to be launched by PM Modi: Top 10 things to know :::: OPERATIONAL INSTRUCTIONS

The Reserve Bank of India (RBI) has issued operational guidelines for Sovereign Gold Bonds scheme, 2015-16, to be launched by Prime Minister Narendra Modi on Thursday. (Reuters)

The Reserve Bank of India (RBI) has issued operational guidelines for Sovereign Gold Bonds scheme, 2015-16, to be launched by Prime Minister Narendra Modi on Thursday. Besides Sovereign Gold Bonds, Modi will also launch two other gold related schemes – Gold Monetisation Scheme (GMS) and the Gold Coin and Bullion Scheme. Here are 10 points to know about the Sovereign Gold Bonds scheme:

1. Issuing the operational guidelines on the gold bonds, RBI said application forms from investors will be received at branches during normal banking hours from November 5 to 20. “Relevant additional details may be obtained from the applicants, where necessary. Receiving offices need to ensure that the application is complete in all respects,” it said.

2. Investors will be compensated at a fixed rate of 2.75 per cent per annum payable semi-annually on the initial value of investment.

3. RBI said applicants will be paid interest on application money at prevailing savings bank rate from the date of realisation of payment to the settlement date (the period for which they are out of funds).

4. In case the applicant’s bank account is not with the receiving bank, the interest has to be credited by electronic fund transfer to the account details provided by the applicant, the guidelines said. It added that banks may engage NBFCs, NSC agents and others to collect application forms on their behalf. Banks may enter into arrangements or tie-ups with such entities.

5. Sovereign Gold Bonds will be available for subscription at the branches of scheduled commercial banks and designated post offices through RBI’s e-kuber system. The e-kuber system can be accessed either through Infinet or Internet.

6. Cancellation of application is permitted till the closure of the issue (November 20). Part cancellation of submitted request for purchase of gold bonds is not permitted. No interest on application money needs to be paid if the application is cancelled.

7. Sovereign Gold Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the Sovereign Gold Bonds will be for a period of 8 years with exit option from 5th year.

8. The GMS will replace the existing Gold Deposit Scheme, 1999. However, the deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the depositors prematurely withdraw them, the Finance Ministry said in a statement.

9. The Indian gold coin is a part of the Gold Monetisation Programme. The coin will be the first ever national gold coin and will have the National Emblem of Ashok Chakra engraved on one side.

10. The Sovereign Gold Bonds will be issued on November 26.

//copy//
Source : http://www.financialexpress.com/

Sale Of Sovereign Gold Bond
Operational Guide Lines


Directorate have informed the following.

The modalities for the sale of SGBs through Post Offices have been finalized and a detailed operational instructions have been enclosed for information and necessary action to ensure smooth operations at all levels.

As per information given by RBI, initially SGBs will be available for sale between 05.11.2015 to 20.11.2015 and issue price for this tranche has been fixed as Rs.2684/- per gram of gold.

Bonds will be issued on 26.11.2015 for applications received for investment in this period for SGBs. 

OPERATIONAL GUIDE LINES : for full details :

CLICK HERE