The official statement confirmed the issue price of the upcoming SGB schemes that opens for subscription on December 11, 2017 has been fixed at Rs. 2890 per gram.
As per the finance ministry statement, the subscription of the Series III of SGBs 2017-18 is slated to commence from December 11 upto December 13. Settlement for the issuance shall be effected on the first working day of the following week.
The SGB 2017-18 - Series-III subscription is open from October 9 to December 27 and investors get 2.5% interest per annum that is payable on a half-yearly basis.
Retail investors are allowed to invest in a single unit of SGB denominated by a gram of gold and in multiples thereof.