The Reserve Bank of India (RBI) on June 16, 2023, notified regarding the Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on June 17, 2023.
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 on which interest is payable. Accordingly, the next due date of premature redemption of the above tranche shall be June 17, 2023 (June 18, 2023, being Sunday).
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 as published by the India Bullion and Jewellers Association Ltd (IBJA). Accordingly, the redemption price for premature redemption due on June 17, 2023 (June 18, 2023, being a Sunday) shall be ₹5,926/- (Rupees Five thousand nine hundred and twenty-six only) per unit of SGB based on the simple average of closing gold price for the period June 14 to 16, 2023.
[Press Release: 2023-2024/425]
