A person resident in India as defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB. Bonds are restricted for subscription by Resident Individuals, Hindu Undivided Families (HUFs), Trusts, Universities, and Charitable Institutions. Each family member can buy the bonds in his/her own name if they satisfy the eligibility criteria. A minor can also invest if his/her guardian makes the application in the minor’s name.