Investors in Sovereign Gold Bonds (SGB) 2015 to collect bumper returns
The RBI, in a statement yesterday, said the redemption price for the early redemption of SGB tranche-1 due on May 30 shall be ₹4,837 per unit of SGB and payable on May 29 (May 30, 2021, is Sunday). This translates into an appreciation of about 80 percent over the issue price of ₹2,684 per unit…
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RBI opens subscription for Sovereign Gold Bonds (SGBs) from May 24
RBI announces issue of the second tranche of the Sovereign Gold Bonds (SGBs) scheme 2021-22. The subscription opens for public from May 24, 2021, and will close on May 28, 2021. Issue price per gram of gold is Rs 4,792 for those investors applying online and the payment against the application is made through digital…
Read article Guidelines for applying the Sovereign Gold Bonds
The resident Indians (individuals, HUFs, Trusts, Universities, Charitable institutions, etc.,) as defined under FEMA Act 1999 are eligible to invest both in a single name or joint name. In the case of joint names, the buying limit applies to the first applicant. The bonds can also be purchased in the minor’s name. Though the tenor…
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EPFO raises death insurance relief to Rs.7 lakh to the family of employees under the EDLI scheme
The Employees’ Deposit Linked Insurance Scheme (EDLI) is an insurance cover provided by the Employees’ Provident Fund Organization (EPFO). The government of India has introduced the Employees Deposit Linked Insurance Scheme (EDLI) in 1976 to help the employees particularly keeping in mind the private-sector employees who may not enjoy any social security benefits as normally…
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How nominees/legal heirs can claim money from PPF, NSC, SCSS, and other post office deposits
The Ministry of communication, Government of India has made certain amendments to make the process of claiming money from the small savings schemes such as Public Provident Fund (PPF), National Savings Certificate (NSC), Post Office Monthly Income Scheme (PO-MIS), etc. The process of claiming money has been streamlined by the department via a circular dated…
How death claim of PPF Account settled?
In the event of death of the subscriber, the amount standing to his credit can be repaid to his nominee or legal heir, as the case may be, even before the expiry of 15 years. Amount in a PPF account will continue to earn interests as per the terms even after death of the subscriber…
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