The Reserve Bank of India (RBI) on May 08, 2023, notified regarding the redemption price for premature redemption due on May 12, 2023.
In terms of GOI Notification F. No. 4(8) - W&M/2017 dated April 20, 2017 (SGB 2017-18, Series I - Issue date May 12, 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. Accordingly, the next due date of premature redemption of the above tranche shall be May 12, 2023.
Further, the redemption price of SGB shall be based on the simple average of the closing gold price of 999 purity, of the week (Monday-Friday), preceding the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA). Accordingly, the redemption price for the premature redemption due on May 12, 2023, shall be Rs. 6,115/- (Rupees Six thousand one hundred fifteen only) per unit of SGB based on the simple average of closing gold price for the week of May 02-05, 2023.
[Press Release: 2023-2024/196]
