The Reserve Bank of India (RBI) on April 20, 2023, issued a press release regarding the Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on April 21, 2023
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 IV - Issue date October 23, 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 next due date of premature redemption of the above tranche shall be on April 21, 2023 (April 22 and April 23, 2023, being Saturday and Sunday respectively)
• 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 21, 2023 (April 22 and April 23, 2023, being Saturday and Sunday respectively) shall be ₹6038/- (Rupees Six thousand thirty-eight only) per unit of SGB based on the simple average of closing gold price for the last three days April 18, April 19 and April 20, 2023.
[Press Release 2023-2024/92]
