Sovereign Gold Bond scheme opens today
December 27, 2020
Issue price fixed at ₹5,000 per gram
New series of Sovereign Gold Bond is opening for subscription on Monday. This is 6th series since first one in 2015 and issue price now is fixed at ₹5,000 per gram almost double than the first one.
Though, as experts say, this scheme has proved to be very good for the individual investor, but it may put a burden on the exchequer as the government has promised to return the principal money to the investor after eight years from date of issue at then existing (current) market price. If issue price is ₹2,500 per gram and price at the maturity is ₹5,000, that means the investor will get back his principal at later price apart from interest every year. From 42 out of 45 completed series, a total investment of ₹18,152.14 crore for over 481 lakh gm gold has been received since inception of the scheme. Data of last three series are not available.
India International Science Festival 2020 Witnesses Innovative Interventions to Contribute Towards the Building of a Self-reliant India
India International Science Festival 2020 witnesses innovative interventions to contribute towards the building of a self-reliant India ANI | Updated: Dec 23, 2020 13:50 IST
The objective of the event was to provide a platform to participants to contribute towards nation-building by coming up with novel solutions to societal problems, that would, in turn, result in reciprocation of knowledge and emergence of ideas for the national interest. The identified Plenary Sessions Igniting Young Minds for Solution centric STI Interventions .
The India International Science Festival (IISF) will provide the spark of innovativeness and a strong belief in science and scientists among the country s citizens that will catapult the country into becoming a world leader.
IISF 2020 witnesses innovative interventions indiagazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiagazette.com Daily Mail and Mail on Sunday newspapers.
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Securities and Exchange Board of India Updates Rules for Asset Management Companies being Launched by Fintech Firms and Other Startups
The
Securities and Exchange Board of India (SEBI), the regulator of the nation’s securities and commodities market, announced on Wednesday (December 16, 2020) that it has updated guidelines related to establishing asset management companies (AMCs) for Fintech firms and other startups.
SEBI confirmed that it has tightened up the shareholding guidelines for firms that may be relisting after completing the corporate insolvency resolution process (CIRP) in order to ensure fair price discovery.
SEBI stated that an entity may sponsor a mutual fund even if it’s unable to meet profitability requirements. But the entity must have a net worth of at least Rs 100 crore (appr. $13.6 million). Currently, mutual fund sponsors are required to have a profitability track record and must have a net worth of Rs 50 crore.