The Reserve Bank of India (RBI) issued a notification regarding the Premature redemption under the Sovereign Gold Bond (SGB) Scheme (Series XIII of SGB 2017-18) - Redemption Price for premature redemption due on June 26, 2023.
The following has been stated namely: -
• This has a reference to GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18, Series XIII - Issue date December 26, 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 June 26, 2023.
• It further states that the redemption price of SGB shall be based on the simple average 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 26, 2023, shall be ₹5,864/- (Rupees five thousand eight hundred and sixty-four only) per unit of SGB based on the simple average of closing gold price for the period June 21 to 23, 2023.
[Press Release 2023-2024/461]
