Para 4 - Denomination, Subscription limit and Pricing - Sovereign Gold Bond Scheme 2020-21 (From Series VII)

4. Denomination, Subscription limit and Pricing .- (i) The bonds will be issued in denominations of one gram of gold or multiples thereof; Provided that the minimum limit of subscription for the Bonds issued shall be of one gram and maximum limit of subscription per fiscal year shall be of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the Government from time to time; Provided that in case of joint holding, the above limits shall be applicable to the first applicant only; Provided that the annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the secondary market; and Provided further that the ceiling on investment will not include the holdings as collateral by banks and other Financial Institutions. (ii) The nominal value of Gold Bonds shall be in Indian Rupees fixed on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewelers Association Limited, for the last 3 working days of the week preceding the subscription period. iii) The issue price of the Gold Bonds will be 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.