What changed
Government announced SGB 2021-22 Series I through VI with specific subscription and issuance dates. RBI circular provides the calendar and reiterates that receiving offices must follow consolidated operational guidelines issued earlier (April 2020). No new procedural changes; this is a routine issuance notification.
What it means for you
Banks and other receiving offices have a clear schedule for six SGB tranches, enabling them to plan investor outreach and application processing. The circular reinforces existing service obligations and the need to adhere to RBI's consolidated guidelines, ensuring uniform handling across all entities. No additional compliance burden beyond standard SGB operations.
What you must do
- Ensure your branches are ready to accept SGB applications during the specified subscription periods (May 17–Sept 3, 2021).
- Verify that all applications include PAN details as mandated.
- Refer to RBI's consolidated procedural guidelines (IDMD.CDD.2730/14.04.050/2019-20 dated April 13, 2020) for full operational instructions.
- Issue acknowledgment receipts (Form B) to applicants promptly.
Who it affects
All Scheduled Commercial Banks (excluding RRBs, Small Finance Banks, Payment Banks), Designated Post Offices, Stock Holding Corporation of India Ltd (SHCIL), National Stock Exchange of India Ltd & Bombay Stock Exchange Ltd, Investors in Sovereign Gold Bonds
What are the subscription dates for SGB 2021-22 Series I?
Series I subscription opens from May 17 to May 21, 2021, with issuance on May 25, 2021.
Which entities are authorized to accept SGB applications?
Scheduled Commercial Banks (excluding RRBs, Small Finance Banks, Payment Banks), designated Post Offices, SHCIL, and recognized stock exchanges (NSE, BSE) can accept applications directly or through agents.
Is PAN mandatory for SGB investment?
Yes, every application must be accompanied by the PAN details issued by the Income Tax Department to the investor.