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SGB eligible for trading from Monday!

2016-06-11


According to the RBI notification Sovereign Gold Bond (SGB) would be eligible for trading at BSE & NSE. Such trading would be recognised from Monday, June 13, 2016. Sovereign Gold Bond Scheme, 2015 was announced by the Government of India vide notification dated October 30, 2015.

In terms of Para 17 of the Scheme, the Reserve Bank of India notifies June 13, 2016 as the date from which the Sovereign Gold Bonds (issued on November 30, 2015) held in dematerialised form shall be eligible for trading on the stock exchanges recognised by the Government of India under the Securities Contracts (Regulation) Act, 1956.

The date of commencement of trading in respect of Bonds issued in subsequent tranches will be notified later. Listing of 2.75% Sovereign Gold Bonds Redemption period is 30 Nov 2023 issued by Reserve Bank of India.

On the other hand BSE also announced the commencement of trading of sovereign gold bonds (SGBs) from Monday, June 13, 2016 on its platform. The Reserve Bank of India, has notified June 13 2016 as the date for commencement of trading of SGBs issued in the first tranche.

These SGBs will be traded under the "G" Group Equity Cash segment of BSE, along with other Government Securities available for trading and settled on T+2 basis in the demat account of the investor. The minimum lot size will be 1 gram and in multiple of 1 gram thereof. Reference price for trading will be the gold price as published by IBJA for the purity of 0.999 fineness!