Dematerialisation of Sovereign Gold Bond
Date : Oct 18, 2016
The Reserve Bank of India, in consultation with the Government of India, has issued five tranches of Sovereign Gold Bonds for a total value of ₹ 3,060 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 in the list is tranchewise and includes names of the Receiving Offices, Investor IDs and reasons for non-dematerialization of the bond.
The Reserve Bank of India has requested the investors to ascertain whether their investor IDs figure in the list. All Receiving Offices also need to access this information to ascertain if any of their clients who had purchased Sovereign Gold Bonds through them figure in the list and make appropriate corrections in consultation with their clients. The modification window in the e-Kuber application of the Reserve Bank of India will be kept open for this purpose until October 21, 2016.
Meanwhile, the Sovereign Gold Bonds will continue to be held in RBI books and would be serviced regularly.
Press Release : 2016-2017/957