RBI reviews FEMA to boost cross-border INR transactions
The Reserve Bank of India, in collaboration with the central government, has reviewed current regulations under the Foreign Exchange Management Act, 1999.
The Government of India, in consultation with the Reserve Bank of India, is all set to launch a new series of Sovereign Gold Bonds 2020-21, the central bank said on Friday. The Sovereign Gold Bond Scheme 2020-21 – Series XII is going to open from March 1-5, 2021.
The issue price of the Bond during the subscription period shall be Rs 4,662 per gram.
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The Settlement date under the Series XII scheme had been fixed for March 9.
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The government has decided to allow discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode.
The price of bond for such investors is fixed at Rs 4,612 per gram of gold.
For such investors, the issue price of Gold Bond will be Rs 4,612 per gram of gold, the RBI said.
The issue price for the SeriesX Bonds that was open for subscription from February 1 to February 5, was Rs 4,912 per gram of gold.
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