Sovereign Gold Bonds- Maximum Limit of Investment and Acceptance as Collateral- Clarification - ଆରବିଆଇ - Reserve Bank of India
Sovereign Gold Bonds- Maximum Limit of Investment and Acceptance as Collateral- Clarification
RBI/2016-17/96 October 20, 2016 The Chairman & Managing Director Dear Sir/Madam, Sovereign Gold Bonds- Maximum Limit of Investment and Acceptance as Collateral- Clarification As you are aware, the Sovereign Gold Bond Scheme was notified by GOI in exercise of the powers conferred by clause (iii) of section 3 of the Government Securities Act, 2006 (38 of 2006). The scheme specifies that the maximum limit of subscription to the bonds will be 500 gm, per person per fiscal year. With respect to the scheme, we have been receiving queries from banks and others about the feasibility of lending against the bonds and whether the restrictions on subscription would extend to acquisitions through transfers etc. In this regard, it is clarified that:
Yours faithfully, (Rajendra Kumar) |