Sovereign Gold Bond- Dematerialisation

By | March 14, 2017
(Last Updated On: March 14, 2017)

Date : Mar 14, 2017

The Reserve Bank of India, in consultation with the Government of India, has issued six tranches of Sovereign Gold Bonds for a total value of ₹ 4145 crore till date. Investors in these bonds have been provided with the option of holding them in physical or dematerialized form.

The requests for dematerialization have largely been processed successfully. A set of records, however, could not be processed for various reasons such as mismatches in names and PAN numbers, inactive or closed demat accounts, besides other reasons. A list of such unsuccessful demat requests is now placed on https://sovereigngoldbonds.rbi.org.in. The information given therein is tranche wise and includes names of the Receiving Offices, Investor IDs and reasons for non-dematerialization of the bond. Investors can access this data to ascertain whether their investor IDs figure in the list. All Receiving Offices will also need to access this information for their customers and make appropriate corrections in consultation with their clients. The modification window in the e-Kuber application of the Reserve Bank of India is open for this purpose.

Notwithstanding the pending status, the Sovereign Gold Bonds will continue to be held in RBI books and would be serviced regularly.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2439

Category: RBI

About CA Satbir Singh

Chartered Accountant having 12+ years of Experience in Taxation , Finance and GST related matters and can be reached at Email : Taxheal@gmail.com

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