[Resolved]  Reserve Bank Of India [RBI] — Non-receipt and erroneous mode of interest payment on SGB Bonds

Address:

# 286/2, FLAT NO. 824, WING-8, SUGUNA UPPER CREST, 4TH CROSS, GATTIGERE, RAJARAJESHWARI NAGAR, HALAGEVADERAHALLI, BANGALORE-560098

Ref: Sovereign Gold Bonds TR-39 & TR-42, Folder No:[protected] & Application Nos: SGB-7466488 & SGB-7528018 respectively purchased online through ICICIDirect platform.

Dear Sir / Madam,

Sub: Interest Credit issues regarding both above referenced SGB-Bonds purchased through ICICIDirect

Above said references. I have purchased two series of Sovereign Gold Bonds – TR39 (Security Code: 25GOLDBND190528) for Rs. 1, 13, 500/-, & TR42 (Security Code: 25GOLDBND110828) for Rs. 1, 32, 100/-, online through ICICIDirect platform on 19th May, 2020 and 6th August, 2020 respectively.

For SGB- TR39 (App. No. 7466488), I received my first Half-yearly interest credit through DD for Rs. 1434.18 on my correspondence address, during January 2021, with almost 3 months of delay. Ideally this should have been credited directly into my ICICI Bank account (No.[protected], as the same was opted for. I fail to understand, in spite of opting for direct interest credit into a bank account, why the DD is issued, which resulted in delay of payment that too with wrong mode. Request you to look into the matter and arrange to credit all future interests directly into my linked ICICI Bank SB account No.[protected].

As regards another bond, SGB-TR42 (App. No. 7528018), it is noticed that in the ICICIDirect statement view, the interest earned as per coupon payment date[protected], is Rs. 1680.58 which is a half yearly interest. However, till date I have not found any credit of this interest amount in my registered ICICI Bank SB account nor any DD is received. Please look into the issue on priority and arrange to credit the above said interest of Rs. 1680.58 into my linked ICICI Bank SB account No.[protected] at the earliest and confirm positively. In future also all credit of interests pertaining to this SGB bond also be directly credited to my ICICI Bank SB A/c. No.[protected].

In the past, I had already raised complaints on the given RBI email addresses, [protected]@rbi.org.in and [protected]@rbi.org.in but failed to receive response from them till date in spite of repeated reminders.
Request your good offices to look into the matter on priority and resolve it quickly.

Await your early positive response.

Regards

Ashok Gurunathrao Belurgikar