The Reserve Bank of India (RBI) on April 13, 2023, issued a Press release regarding the Premature redemption under Sovereign Gold Scheme - Redemption Price for premature redemption due on April 15, 2023 (April 16, 2023, being a Sunday) (Series III of SGB 2017-18)
The following has been stated namely: -
• This has a reference to the GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18, Series III - Issue date October 16, 2017) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable.
• It states that the second due date of premature redemption of the above tranche shall be April 15, 2023 (April 16, 2023, being a Sunday)
• It further states that the redemption price of SGB shall be 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 the premature redemption due on April 15, 2023, shall be ₹6063/- (Rupees Six thousand sixty-three only) per unit of SGB based on the simple average of closing gold price for the last three days April 11, April 12, and April 13, 2023.
[Press Release:2023-2024/65]
