!-- Whatsapp Share Buttons Start -->

Latest Updates / Blogroll

.... AIPEU GROUP - 'C' IS TO CONDUCT ALL ITS STRUGGLE PROGRAMMES UNDER THE BANNER OF POSTAL JCA ....

.... THE JCA SUBMMITTED THE MEMORANDUM TO 7TH CPC ON 23.7.2014 ....

…. NFPE & GDS (NFPE) FILED A CASE IN SUPREME COURT PRAYING : IMPLEMENTATION OF 1977 JUDGEMENT AND DECLARE GDS ARE CIVIL SERVANTS & SCRAP THE GDS (CONDUCT & ENGAGEMENT) RULES 2011 AS THEY ARE INVALID AND UNCONSTITUTIONAL ....

…. SUPREME COURT DIRECTED THE CASE TO DELHI HIGH COURT .. FIRST HEARING WAS ON 13-01-2014 AND PLEASED TO SERVE NOTICE TO GOVT. & DEPARTMENT....

.... NEXT HEARING ON 07-05-2014 NEXT HEARING ON 07-05-2014 ....

APPEAL

APPEAL

UNION SUBSCRIPTION

.... AIPEU GROUP - 'C' UNION SUBSCRIPTION DETAILS ....

.... ALL INDIA UNION / CHQ QUOTA = RS 13 + CIRCLE UNION QUOTA = RS 12 + DIVISIONAL / BRANCH UNION QUOTA = RS 25, TOTAL = RS 50....
.... AIPEU POSTMEN & MTS UNION SUBSCRIPTION DETAILS ....


.... NFPE = Rs 2 + ALL INDIA UNION / CHQ QUOTA = RS 10 + CIRCLE UNION QUOTA = RS 10 + DIVISIONAL / BRANCH UNION QUOTA = RS 18, TOTAL = RS 40....

DHENKANAL POSTAL DIVISION AT A GLANCE

Friday, February 24, 2017

Government to issue Sovereign Gold Bonds 2016 -17 – Series IV


Press Information Bureau
Government of India
Ministry of Finance

23-February-2017 11:15 IST

Government to issue Sovereign Gold Bonds 2016 -17 – Series IV; Applications for the bond to be accepted from February 27, 2017 to March 03, 2017

Government of India, in consultation with the Reserve Bank of India(RBI), has decided to issue Sovereign Gold Bonds 2016-17–Series IV. Applications for the bond will be accepted from February 27, 2017 to March 03, 2017. The Bonds will be issued on March 17, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.

The features of the Bond are given below:

Sl. No.
Item
Details
1
Product name
Sovereign Gold Bond 2016-17 – Series IV
2
Issuance
To be issued by Reserve Bank India on behalf of the Government of India.
3
Eligibility
The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.
4
Denomination
The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
5
Tenor
The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.
6
Minimum size
Minimum permissible investment will be 1 grams of gold.
7
Maximum limit
The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.
8
Joint holder
In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.
9
Issue price
Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period. The issue price of the Gold Bonds will be ` 50 per gram less than the nominal value.
10
Payment option
Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.
11
Issuance form
The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.
12
Redemption price
The redemption price will be in Indian Rupees based on previous week’s (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.
13
Sales channel
Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
14
Interest rate
The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.
15
Collateral
Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
16
KYC Documentation
Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.
17
Tax treatment
The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond
18
Tradability
Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
19
SLR eligibility
The Bonds will be eligible for Statutory Liquidity Ratio purposes.
20
Commission
Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received  by  the  receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

0 comments:

Post a Comment

IS GENERATOR FUNCTIONAL AT YOUR POST OFFICE ?

IS EARTHING DONE AT YOUR POST OFFICE ?

IS UPS FUNCTIONAL AND GIVING BACK UP AT YOUR POST OFFICE ?

IS THERE A SEPARATE SERVER COMPUTER AT YOUR POST OFFICE ?

IS CASH COUNTING MACHINE AVAILABLE AT YOUR POST OFFICE ?

IS VACUUM CLEANER AVAILABLE AT YOUR POST OFFICE ?

IS THERE ANY SECURITY WATCHMAN AT YOUR POST OFFICE ?

IS FAKE NOTE DETECTOR AVAILABLE AT YOUR POST OFFICE ?

About

ALL THE INFORMATION PUBLISHED IN THIS WEBPAGE IS SUBMITTED BY USERS OR FREE TO DOWNLOAD ON THE INTERNET. I MAKE NO REPRESENTATIONS AS TO ACCURACY, COMPLETENESS, CURRECTNESS, SUITABILITY OR VALIDITY OF ANY INFORMATION ON THIS PAGE AND WILL NOT BE LIABLE FOR ANY ERRORS, OMISSIONS OR DELAYS IN THIS INFORMATION OR ANY LOSSES, INJURIES OR DAMAGES ARISING FROM ITS DISPLAY OR USE. ALL INFORMATION IS PROVIDED ON AN AS-IS BASIS. ALL THE OTHER PAGES YOU VISIT THROUGH THE HYPER LINKS MAY HAVE DIFFERENT PRIVACY POLICIES. IF ANYBODY FEELS THAT HIS/HER DATA HAS BEEN ILLEGALLY PUT IN THIS WEBPAGE OR IF YOU ARE THE RIGHTFUL OWNER OF ANY MATERIAL AND WANT IT REMOVED PLEASE EMAIL ME AT "suryamadhu.talk@gmail.com" AND I WILL REMOVE IT IMMEDIATELY ON DEMAND. ALL THE OTHER STANDARD DISCLAIMERS, TERMS AND CONDITIONS OF TRADEMARK, REGISTERED COPY RIGHT, PATENT ALSO APPLY.
COPY RIGHTS RESERVED WITH AIPEU P3, DHENKANAL DIVISION ( R ) / ( T ) : 2014 : PIONEERS OF THE TRADE UNION MOVEMENT