The Reserve Bank of India (RBI) on October 28, 2022, issued a notification regarding the premature redemption under the Sovereign Gold Bond (SGB) Scheme which is permitted after the 5th year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the first due date for premature redemption will be on October 29, 2022.
It is further stated that the redemption price of SGB is based on the simple average of the closing gold price of 999 purity of the previous three business days from the date of redemption as published by the India Bullion and Jewellers Association Ltd (IBJA). The redemption price for premature redemption due will be ₹5058/- per unit of SGB based on the simple average of closing gold price for 3 business days i.e., October 25, 27, and 28, 2022.
[Press Release: 2022-2023/1107]
