HomeCirculars › RBI/2023-24/44

Sovereign Gold Bond Scheme 2023-24: Tranche Dates and Procedures

Current · Source: Reserve Bank of India · RBI/2023-24/44 · issued 15 Jun 2023 · ~2 min read
Quick answerRBI has opened the Sovereign Gold Bond Scheme for FY 2023-24 with two tranches. Series I subscription runs June 19-23, 2023, issuance June 27. Series II runs September 11-15, 2023, issuance September 20. Banks must accept applications, verify PAN, and upload investor email IDs on the Ekuber portal.
The rule, in the simplest words
How it plays out — a real example

A branch operations officer in Indore receives an SGB application from a customer on June 20, 2023. She verifies the customer's PAN, issues a Form B receipt, and later that day uploads the customer's email ID and subscription details on the Ekuber portal, following the consolidated guidelines from October 2021.

What changed

The Government of India announced the Sovereign Gold Bond Scheme for 2023-24 via notification dated June 14, 2023. RBI circular specifies two tranches with distinct series: Series I (June 19-23 subscription, June 27 issuance) and Series II (September 11-15 subscription, September 20 issuance). Receiving offices must follow consolidated procedural guidelines issued earlier.

What it means for you

Banks and other receiving offices must gear up to process SGB applications for the new fiscal year, ensuring PAN validation and email ID upload on the Ekuber portal. The two-tranche structure spreads investor demand and operational load. Adherence to the consolidated procedural guidelines is mandatory for all servicing aspects.

What you must do

Who it affects

Scheduled Commercial Banks, Designated Post Offices, Stock Holding Corporation of India Ltd., Clearing Corporation of India Ltd., National Stock Exchange of India Ltd., Bombay Stock Exchange Ltd.

❓ Common questions

What are the subscription and issuance dates for SGB 2023-24 Series I?

Subscription opens from June 19 to June 23, 2023, and the bonds will be issued on June 27, 2023.

What documents are mandatory for an SGB application?

Every application must include valid PAN details issued by the Income Tax Department. For online applications, the investor's email ID must also be provided and uploaded on the Ekuber portal.

Which entities are authorized to receive SGB applications?

Designated scheduled commercial banks, designated post offices, Stock Holding Corporation of India Ltd., Clearing Corporation of India Ltd., and recognized stock exchanges (NSE and BSE) are authorized receiving offices.

📜 Read the original circular — full text as issued by RBI
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National Stock Exchange of India Ltd, Bombay Stock Exchange Ltd. Clearing Corporation of India Ltd. Madam/Dear Sir, Sovereign Gold Bond (SGB) Scheme 2023-24 Government of India, vide its Notification No F.No 4.(6) - B(W&M)/2023 dated June 14, 2023 , has announced Sovereign Gold Bond Scheme 2023-24. Under the Scheme, there will be a distinct series (starting from series I) which will be indicated on the Bond issued to the investor. The terms and conditions of the issuance of the Bonds shall be as per the above notification. 2. Date of Issue The bonds shall be issued as per the details given below: S. No. Tranche Date of Subscription Date of Issuance 1. 2023-24 Series I June 19 – June 23, 2023 June 27, 2023 2. 2023-24 Series II September 11 – September 15, 2023 September 20, 2023 3. Period of subscription Subscription for the Gold Bonds under the Scheme shall be open (Monday to Friday) on the dates specified above, provided that the Central Government may, with prior notice, close the Scheme at any time before the period specified above. 4. Application Subscription for the Bonds may be made in the prescribed application form Form A or in any other form as near as thereto, stating clearly the units (in grams) of gold and the full name and address of the applicant. Every application must be accompanied by valid ‘PAN details’ issued by the Income Tax Department to the investor(s). Designated Scheduled Commercial Banks , Designated Post Offices , Stock Holding Corporation of India Ltd., Clearing Corporation of India Ltd. and recognized stock exchanges , viz. National Stock Exchange of India Ltd. and Bombay Stock Exchange Ltd. are the Receiving Offices authorized to receive applications for the Bonds either directly or through agents and render all services to the customers. The Receiving Office shall issue an acknowledgment receipt in Form B to the applicant. 5. All online applications should be accompanied by email Id of the investor/s which should be uploaded on the Ekuber portal of the Reserve Bank of India along with the subscription details. 6. In addition to receipt of application, the Receiving Offices are also entrusted with the responsibility of providing service to the investors and are required to be guided by the instructions issued by the Reserve Bank of India in this regard from time to time. With a view to facilitate availability of all current operative instructions regarding servicing of these bonds at one place, Reserve Bank of India has issued Consolidated Procedural Guidelines vide circular IDMD.CDD.1100/14.04.050/2021-22 dated October 22, 2021 (updated as on October 4, 2022), and the same is available on RBI website. The Receiving Offices shall be guided by these instructions while dealing with all the procedural aspects and providing service to the investors. 7. All other terms and conditions specified in the notification of the Government of India, Ministry of Finance (Department of Economic Affairs) F.No.4(2)-W&M/2018 dated March 27, 2018 shall apply to the Bonds. Yours faithfully, (G Anandakrishnan) Deputy General Manager 2026 All Months January February March April May June July August September October November December 2025 All Months January February March April May June July August September October November December 2024 All Months January February March April May June July August September October November December 2023 All Months January February March April May June July August September October November December 2022 All Months January February March April May June July August September October November December 2021 All Months January February March April May June July August September October November December 2020 All Months January February March April May June July August September October November December 2019 All Months January February March April May June July August September October November December 2018 All Months January February March April May June July August September October November December 2017 All Months January February March April May June July August September October November December Archives 2016 All Months January February March April May June July August September October November December 2015 All Months January February March April May June July August September October November December 2014 All Months January February March April May June July August September October November December 2013 All Months January February March April May June July August September October November December 2012 All Months January February March April May June July August September October November December 2011 All Months January February March April May June July August September October November December 2010 All Months January February March April May June July August September October November December 2009 All Months January February March April May June July August September October November December 2008 All Months January February March April May June July August September October November December 2007 All Months January February March April May June July August September October November December 2006 All Months January February March April May June July August September October November December 2005 All Months January February March April May June July August September October November December 2004 All Months January February March April May June July August September October November December 2003 All Months January February March April May June July August September October November December 2002 All Months January February March April May June July August September October November December 2001 All Months January February March April May June July August September October November December 2000 All Months January February March April May June July August September October November December 1999 All Months January February March April May June July August September October November December 1998 All Months January February March April May June July August September October November December 1997 All Months January February March April May June July August September October November December 1996 All Months January February March April May June July August September October November December 1995 All Months January February March April May June July August September October November December 1994 All Months January February March April May June July August September October November December 1993 All Months January February March April May June July August September October November December 1992 All Months January February March April May June July August September October November December 1991 All Months January February March April May June July August September October November December Top Back to previous page More Links Bank Holidays Banking Glossary Citizen's Charter Complaints Contact Us COVID-19 Measures E-LMS Events FAQs Financial Education Forms IFSC/MICR Codes Important Websites Opportunities @ RBI RBI Clarifications RBI Kehta Hai RBI’s Vision and Values (1257 kb)--> Right to Information Act Tenders Follow RBI RSS Twitter YouTube Instagram Facebook LinkedIn © Reserve Bank of India. 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Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2023-24/44 · issued 15 Jun 2023. The plain-English explanation above is BankPulse’s own independent summary.
🧰 Tools — save, print, templates & related
Who does what — compliance checklist
💻 IT / Systems
  • Accept SGB applications from June 19-23, 2023 for Series I and September 11-15 for Series II.
  • Verify PAN details for every application and issue acknowledgment receipt in Form B.
  • Upload investor email IDs along with subscription details on the RBI Ekuber portal for online applications.
📜 Compliance
  • Refer to and comply with the consolidated procedural guidelines (circular dated October 22, 2021, updated October 4, 2022) for all servicing procedures.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (Scheduled Commercial Banks, Designated Post Offices, Stock Holding Corporation of India Ltd., Clearing Corporation of India Ltd., National Stock Exchange of India Ltd., Bombay Stock Exchange Ltd.), your first concrete step on “Sovereign Gold Bond Scheme 2023-24: Tranche Dates and Procedures” is: “Accept SGB applications from June 19-23, 2023 for Series I and September 11-15 for Series II.” (RBI issued this 15 Jun 2023).

  1. Circular: RBI/2023-24/44 -- Sovereign Gold Bond Scheme 2023-24: Tranche Dates and Procedures
  2. Issued: 15 Jun 2023
  3. Action required: Accept SGB applications from June 19-23, 2023 for Series I and September 11-15 for Series II.
  4. Action required: Verify PAN details for every application and issue acknowledgment receipt in Form B.
  5. Action required: Upload investor email IDs along with subscription details on the RBI Ekuber portal for online applications.
  6. Action required: Refer to and comply with the consolidated procedural guidelines (circular dated October 22, 2021, updated October 4, 2022) for all servicing procedures.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12517&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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