BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Online FDR account
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Closure of SGB
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Online Nomination
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Cash on Mobile
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Detailed explanation-1: -A sovereign gold bond (SGB) is a government security that is denominated in gold grams. It is a substitute for physical gold. Investors invest in these bonds when the scheme opens and it is redeemed on maturity. The Reserve Bank of India on behalf of the Government of India manages the sovereign gold bond scheme.
Detailed explanation-2: -In terms of GoI notification F. No. 4(6)-B(W&M)/2022 and RBI press release dated December 15, 2022, the Sovereign Gold Bond Scheme 2022-23-Series III will be open for subscription during December 19 – 23, 2022.
Detailed explanation-3: -Is premature redemption allowed? Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor.
Detailed explanation-4: -Sovereign Gold Bond Scheme (SGB) | Union Bank of India.