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Sovereign Gold Bond-Dematerialisation- (Reserve Bank of India) (08 Aug 2017)

MANU/RPRL/0126/2017

Banking

The Reserve Bank of India, in consultation with the Government of India, has issued nine tranches of Sovereign Gold Bonds for a total value of Rs. 6030 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 include 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 necessary modules in the e-Kuber application of the Reserve Bank of India has been made available for this purpose. May we add that notwithstanding the pending status, the Sovereign Gold Bonds will continue to be held in RBI books and would be serviced regularly.

Tags : DEMATERIALISATION   GOLD BONDS   ISSUANCE  

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