Sovereign Gold Bonds, 2015-16 issue date shifted to November 30, 2015

The Reserve Bank of India, in consultation with Government of India, had notified the issuance of Sovereign Gold Bonds, 2015-16 vide circulars IDMD.CDD.No. 939/14.04.050/2015-16 dated October 30, 2015 and IDMD.CDD.No. 968/14.04.050/2015-16 dated November 4, 2015. The first tranche of Sovereign Gold Bonds was open for subscription from November 5 to November 20, 2015. The bonds were to be issued on November 26, 2015.

Large number of applications has been received by banks and post offices. To enable smooth uploading of applications into RBI’s E-kuber system, particularly by the post offices, it has since been decided to shift the issue date of the Sovereign Gold Bond from November 26, 2015 to November 30, 2015.

Other terms and conditions of the above circulars remain unchanged.

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RBI/2015-16/245
IDMD.CDD.No. 1157/14.04.050/2015-16

November 24, 2015

The Chairman & Managing Director
All Scheduled Commercial Banks
(Excluding RRBs)

Dear Sir/Madam,

Sovereign Gold Bonds, 2015-16

A reference is invited to circular IDMD.CDD.No. 939/14.04.050/2015-16 dated October 30, 2015 on Sovereign Gold Bond scheme.

2. It has been decided to shift the issue date of the Sovereign Gold Bond from November 26, 2015 to November 30, 2015. In this regard, please refer to the Operational Guidelines issued vide circular IDMD.CDD.No. 968/14.04.050/2015-16 dated November 4, 2015, wherein it was stated that applicants will be paid interest at prevailing savings bank rate from the date of realization of payment to the settlement date i.e. period for which they are out of funds. As the settlement date has now been shifted to November 30, 2015, the interest at prevailing savings bank rate shall be paid from the date of realization of payment to the new settlement date i.e. November 30, 2015.

3. Other terms and conditions of the above circulars remain unchanged.

Yours faithfully

(P. K. Pati)
General Manager