The Reserve Bank of India (RBI) on June 08, 2023, issued a notification regarding the Premature redemption under the Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on June 09, 2023 (Series XI of SGB 2017-18).
The following has been stated: -
In terms of GOI Notification F.No.4(25) -W&M/2017 dated October 06, 2017, on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after the fifth year from the date of issue of such Gold Bond on the date of which interest is payable.
The due date of premature redemption of the above tranche shall be June 09, 2023 (June 10 and June 11, 2023, being non-working Saturday and Sunday respectively).
Further, 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.
The redemption price for premature redemption due on June 09, 2023 (June 10 and June 11, 2023, being non-working Saturday and Sunday respectively) shall be ₹5,990/- (Rupees Five thousand nine hundred and ninety only) per unit of SGB based on the simple average of closing gold price for the period June 06 to 08, 2023.
[Press Release: 2023-2024/374]
